To add to the other Greece Breaking News story (Greece Defaults, Still Wants Bailout)....
The Ars Writes:
Thom Feeney, a London shoe shop worker who started a campaign to raise €1.6 billion (that's US $1.78 billion). Feeney's IndieGoGo campaign, started just two days ago, has already raised an astonishing €478,575 (or $533,010) from more than 30,000 people.
"All this dithering over Greece is getting boring," Feeney wrote on his IndieGoGo page. "Why don't we the people just sort it instead?" He added that to come up with the €1.6 billion, every member of Europe would only have to give €3 each (well, technically you'd only need to collect from members of the European Union; that's not even counting any potentially generous Swiss or Norwegian people.)
The campaign has six days left to raise money. If €1.6 billion isn't raised, all the donors will get back their money.
This afternoon, the International Monetary Fund (IMF) declared that Greece was officially in arrears, but it has not yet declared that Greece is in default. Technically, the IMF could offer Greece an extension of its debt repayment obligation. On July 5, the country will hold a national referendum on whether to sign a deal demanding even stricter austerity from the nation.
But, if Europeans all chip in, maybe we can just put this silly bailout business behind us.
(Score: 2, Insightful) by sce7mjm on Thursday July 02 2015, @07:57PM
So all banks fail to honor the commitment the second they lend any money from a depositors account, it's just that they get away with it because people don't want all there deposited money at the same time. They are taking a risk lending. The Europeans have got to accept that lending to countries is a risk. And it is difficult to lay claim to assets without getting the tanks out.