Someone Is Trying to Crowdfund a Greek Bailout, and Donations Are Surging

Only 1,599,917,718 euros to go.

Crowdfunding instead of creditor-fighting.

Kostas Tsironis/Bloomberg

A new campaign has been set up on Indiegogo, an online funding website with a mission of "empowering everyone to change the world." With a goal of raising 1.6 billion euros, the "Greek Bailout Fund" aims to do what the Hellenic Republic's creditors apparently cannot.

And, unlike Greece's actual bailout package there are no (austerity) strings attached.

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More than 5,000 people have pledged so far, raising more than 82,000 euros. When we checked yesterday that figure was at a mere 4,297 euros. Half an hour ago it was at 50,000 euros.

Things seem to be moving fast, though it's worth remembering that at the current rate, raising this much money would still take time. If the campaign does not hit its lofty goal of raising 1.6 billion euros, then contributors are supposed to get their money back. 

If they do hit the goal, the campaign's creator, a self-described a 29-year-old based in London, says; "all profits will go to the Greek people." As the Indiegogo page puts it: "€1.6bn is what the Greeks need. It might seem like a lot but it's only just over €3 from each European."

And for a €3 you supposedly get a postcard sent from Alex Tsipras, the Greek Prime Minister.

So far it looks like 33 people have donated €160; 260 have donated €25; 460 have donated €10; 330 have pledged €6; and nearly 1,000 have donated €3. 

That's almost 1,000 postcards of Tsipras due to be sent.

Update: As of 8:50am New York time, the campaign has raised more than €100,000. 

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