International

Crowdfunding The Greek Debt Bailout?

As the Greek drama plays on, Bloomberg reports that a crowdfunding campaign is in the midst of trying to raise €1.6 billion via the “Greek Bailout Fund” launched on site Indiegogo.

As has been widely reported, as of Tuesday (June 30) the nation was on course to default on its latest debt payment due to creditors of more than €1.6 billion. And that impending deadline had the nation on a self-imposed bank holiday, with a snap referendum in place scheduled for the weekend that could lead to an exit from the EU.

Bloomberg noted that on Tuesday more than 5,000 people had pledged as much as €82,000. The campaign’s creator, a “self-described 29-year-old based in London,” according to Bloomberg, said “all profits will go to the Greek people,” if the site does indeed reach its goal. ABC News later identified the campaign’s creator as Thom Feeney, a British shoe shop worker.

That €1.6 billion finish may seem a lofty aim, but, claims the campaign, “it’s only just over €3 from each European.” If the crowdfunding campaign falls short of the mark, then contributors are slated to get their funds back. And according to the campaign, donations of €3 will garner a postcard of Greek Prime Minister Alex Tsipras. Other perks offered include Greek salad or even a trip for two to Greece, depending on the donation size.

As for what was behind his motivation for launching the campaign this past Sunday, Feeney told ABC News in an interview that “watching politicians going round in circles and dithering somewhat with making a decision on Greece, I just thought, I think it just needs someone to step in and sort it.”

 

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