Shoe seller's 'easy solution' to solve Greece's 1.6 billion Euro debt

A British shoe seller has called on the citizens of the world to "solve" the Greek debt crisis with online donations, which now total more than $828,500 in two days.

Thom Feeney, 29, from London began the Greek Bailout Fund on website IndieGoGo in an effort to raise the 1.6 billion Euros ($NZD 2.62 billion) Greece needed to make its debt payment to the International Monetary Fund.

Mr Feeney asked on the charity website, "why don't we the people just sort it instead?

"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," he wrote.

However, it is not so easy, the Mediterranean nation is on the verge of a major economic collapse and is all but bankrupt, while a further 6.6 billion Euro repayment (#NZD10.8 billion) to the European Central Bank is due this month and August.

Despite the dire economic situation, Mr Freeney urged Europeans to contribute three Euros ($NZD 5) each to reach the target. So far 31,549 people have answered the call.

"1.6b is what the Greeks need. It might seem like a lot but it's only just over 3 Euro 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."

Surprisingly, the majority of donations during the first day came from Britons, who are not eurozone members, and Germans, whose Government has taken a stiff stance on Greece's repayments, ABC Australia reports.

Initially a small Greek Island was offered for anyone who came up with the 1.6b Euros, but was quickly shut down after the Greek Government refused the deal.

All the donated money will be refunded if the target is not met in the next six days.

The Greece Bailout Fund Source: 1 NEWS