Londoner tries to save Greece by crowd funding bailout

Twenty nine year old London shoe salesman raises €1.31 million in five days, attracting more than 76,000 investors in attempt to relieve Greece from its debt

Photo by: Reuters
Photo by: Reuters

Updated Jul 28, 2015

On June 29, Londoner Thom Feeney launched the “Greek Bailout Fund” crowdfunding campaign on the website indiegogo, calling for donations to save the Greek economy. Feeney’s goal was to raise the €1.6 billion Greece needed to pay to the International Monetary Fund (IMF). 

Feeney, who says Greece would be better off letting “the people” decide its fate rather than European ministers, managed to raise €1.31 million in five days. 

"The European Union is home to 503 million people, if we all just chip in a few euro then we can get Greece sorted and hopefully get them back on track soon. Easy," Feeney wrote on his crowdfunding page. 

“€1.6 billion is what the Greeks need. It might seem like a lot but it's only just over €3 from each European. That's about the same as half a pint in London. Or everyone in the EU just having a Feta and Olive salad for lunch,” he added. 

Feeney offered some bonus gifts to investors - a €3 investment for a postcard of Greek Prime Minister Alexis Tsipras, €25 for a bottle of Greek wine and €5000 for a Greek holiday for two, for which so far five people are eligible. 

Feeney has promised that all the money will go to the Greek people through the government or other means if the funding target is met. Investors donating money to the fund are expected to get their money back if the campaign does not reach €1.6 billion in seven days. 
TRTWorld and agencies