July 16, 2015

The Latest From Greece: A Quick Rundown

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A quick summary of Greece to start my morning (or ease you into lunch if you’re on the East coast):

  • The Greek parliament has passed the first batch of legislation demanded by the Europeans.
  • This seriously split Syriza, and could even lead to the downfall of the government. In the meantime, there was rioting in the streets of Athens.
  • The European Central Bank responded by providing €900 million to Greece’s banks. It’s not much, and capital controls will stay in place for a while. But it keeps the ATMs churning out €60 per day, which is better than €0 per day.
  • Mario Draghi, the head of the ECB, said it was “uncontroversial” that Greece needs substantial debt relief. It all depends on Greece keeping its side of the deal. So now both the ECB and the IMF—two-thirds of the Troika—are publicly on board with debt relief.

That’s about it for now. Amid the chaos, things are moving forward. Nonetheless, the religious types among you should give thanks daily that you don’t live in Greece.

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WE'LL BE BLUNT

It is astonishingly hard keeping a newsroom afloat these days, and we need to raise $253,000 in online donations quickly, by October 7.

The short of it: Last year, we had to cut $1 million from our budget so we could have any chance of breaking even by the time our fiscal year ended in June. And despite a huge rally from so many of you leading up to the deadline, we still came up a bit short on the whole. We can’t let that happen again. We have no wiggle room to begin with, and now we have a hole to dig out of.

Readers also told us to just give it to you straight when we need to ask for your support, and seeing how matter-of-factly explaining our inner workings, our challenges and finances, can bring more of you in has been a real silver lining. So our online membership lead, Brian, lays it all out for you in his personal, insider account (that literally puts his skin in the game!) of how urgent things are right now.

The upshot: Being able to rally $253,000 in donations over these next few weeks is vitally important simply because it is the number that keeps us right on track, helping make sure we don't end up with a bigger gap than can be filled again, helping us avoid any significant (and knowable) cash-flow crunches for now. We used to be more nonchalant about coming up short this time of year, thinking we can make it by the time June rolls around. Not anymore.

Because the in-depth journalism on underreported beats and unique perspectives on the daily news you turn to Mother Jones for is only possible because readers fund us. Corporations and powerful people with deep pockets will never sustain the type of journalism we exist to do. The only investors who won’t let independent, investigative journalism down are the people who actually care about its future—you.

And we need readers to show up for us big time—again.

Getting just 10 percent of the people who care enough about our work to be reading this blurb to part with a few bucks would be utterly transformative for us, and that's very much what we need to keep charging hard in this financially uncertain, high-stakes year.

If you can right now, please support the journalism you get from Mother Jones with a donation at whatever amount works for you. And please do it now, before you move on to whatever you're about to do next and think maybe you'll get to it later, because every gift matters and we really need to see a strong response if we're going to raise the $253,000 we need in less than three weeks.

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