Updated at 01:15 p.m. GMT, July 21.
A crowdfunded “bailout” for cash-strapped Greece fell 1.598 billion euros short of its 1.6 billion goal (about 1.8 billion US dollars) as the campaign's deadline came and went earlier this month.
“Greek Bailout Fund” managed to raise an impressive 1,930,366 euros from 108,654 people around the world in eight days, but because it didn't meet its target, all the money pledged will be refunded under crowdfunding platform Indiegogo's “Fixed Funding” rule.
But that wasn't the end of Thom Feeney‘s crowdfunding efforts for Greece. The 29-year-old shoe shop employee from the UK who launched the original initiative created a new campaign, one that will benefit Greek foundation Desmos‘ network of charities to “get as many 16-24 year olds into work as possible”:
I want young people to have hope, to learn skills, to drive forward their economy and invest their wages back into Greece. These young people will work in charities, technology and other worthy causes to help the situation in their country.
A quarter of Greeks are unemployed, but the figure balloons to nearly 50 percent for people under 25.
In 14 days, 13,886 people donated 289,162 euros to the new cause, called “Greece Crowdfund.” The campaign had different terms than the first — it will receive any money raised even if it doesn't reach its goal, this time set at 1 million euros.
“Hope this second one will reach its target!” Kjersti Waterloo, who contributed to the original campaign and the new one, commented. “Its time for the rest of Europe to help out the Greeks :)”