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Greece Bailout Crowdfunding Campaign Has Raised Over 1 Million Euros Just 1,599 Million More Needed

Greece Bailout Crowdfunding Campaign Has Raised Over 1 Million Euros - Just 1,599 Million More Needed

By NDTV Correspondent | Updated: 2 July 2015 14:13 IST

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Help is at hand for the indebted Greek people: a bailout fund has been set up for them on crowdfunding website Indiegogo.

The campaign goal is to raise 1.6 billion euros (roughly Rs. 11,456 crores), the same amount Greece failed to pay the International Monetary Fund on Tuesday. By mid-afternoon IST on Thursday, over 1.3 million euros had been pledged by more than 75,000 funders.

The campaign got so much attention on Wednesday that the Indiegogo couldn't keep up with the traffic. "We're experiencing connectivity issues due to overwhelming worldwide interest in the @GreekBailout campaign. Thanks for your patience," the company account tweeted.

Clearly, that interest isn't translating into a lot of donations, with the amount raised so far not even reaching 1 percent of what is admittedly a very stiff target.

As with most crowdfunding campaigns, there are gifts for those who pledge. Pledge 3 euros and get a postcard sent from Greece of Prime Minister Alexis Tsipras. Pledge 6 euros and get a feta and olive salad, 10 euros to get a small bottle of ouzo and 25 euros to get a bottle of Greek wine.

The campaign insists it is not a joke.

"I was fed up of the Greek crisis going round in circles, while politicians are dithering, this is affecting real people," campaign organiser Thom Feeney writes on the site.

Written with inputs from Reuters

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Further reading: Greece, Greece bailout, IMF, Indiegogo, International Monetary Fund, Internet