As the country approaches the deadline for repaying loans to its creditors – €1.6bn of which is due to the global Monetary Fund (IMF) tomorrow – it’s the kind of cash that a country doesn’t just find hiding down the back of the sofa.
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Of course, if the campaign fails to raise €1.6bn in the next seven days, all donations are refunded…
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Compared to the white-knuckle negotiations European leaders have engaged in, the Indiegogo campaign’s approach is downright breezy.
According to Feeney, if each person in the European Union (EU), home to 503 million people, donates three euros, the Greece debt crisis would be solved.
Of course, it’s not quite that simple.
To pay off the debt in full, everyone would have to pay €550.
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On Friday, Greek Prime Minister Alexis Tsipras shocked lenders when he announced a July 5 referendum on the country’s bailout. Greek banks were closed on Monday, and residents were limited to ATM withdrawals of just 60 euros (roughly $66).
While the world’s politicians still continue to drag their feet, London-based Yorkshireman Thom Feeney has taken action.
Help is at hand for the indebted Greek people: a bailout fund has been set up for them on crowd-funding website Indiegogo.
“I’m confident the people of Europe will get this campaign and some time soon we’ll all be raising a glass of Ouzo and having a bloody great big celebration”, he continued.
For those who wish the Greek financial drama would come to an end sooner rather than later, and without the need for a Grexit, there is a new option on the table: Bail Greece out yourself.
Despite the jovial tone, Mr Feeney’s crowdfunding campaign is gathering steam.
Still, there’s some enthusiasm about the campaign on Twitter. Now it is nearly triple that figure, thanks in part to the 7,550 people who donated so far today.
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The industry raised $16.2 billion worldwide in 2014 and is expected to reach $34.4 billion in 2015. “Why do not we the people just sort it instead?” said Fenney.
