Crowdfunding democracy – what the Greek crisis tells us about the new financial order
In the past few days we have seen how the media has been filled with endless stories about the Greek referendum (or “greferendum”), crisis negotiations, deadlines and austerity protests. One enterprising individual even famously attempted to crowdsource a bailout, generating huge publicity and mobilising over 100,000 individuals to donate.
Despite the failure of the campaign (€2m or 0 per cent of the total needed to make a difference to Greece was funded) and despite the questionable feasibility of the idea, the Greek Bailout Fund does send a powerful message to the world:
People are willing to bypass the traditional financial system and Read full story ›
Source: The Drum
