Serving the Quantitative Finance Community

 
User avatar
ppauper
Posts: 11729
Joined: November 15th, 2001, 1:29 pm

Creative Thinking on Greece

June 30th, 2015, 10:06 am

Greece threatens top court action to block Grexit
 
User avatar
trackstar
Topic Author
Posts: 3420
Joined: January 1st, 1970, 12:00 am

Creative Thinking on Greece

June 30th, 2015, 8:48 pm

QuoteOriginally posted by: trackstarAnd finally, in a word, crowd funding.Would you believe...?Greece Crowdfunding campaign tops 16,000 pledges - WSJ Market Watch June 30That data is a few hours old. Some reports say that he started the campaign on Sunday - it is going viral now.Earlier this afternoon the page for the campaign is actually down - could not cope with the volume. Haha! :)But it's back up now: Greek Bailout Fund"Per his crowdfunding page, Feeny figures the 503 million people in the European Union need only pony up 6 euros each for a Greek Feta and Olive salad to solve the immediate debt crisis.Those pledging 10 euros qualify for a voucher good for a bottle of ouzo, while those able to donate 25 euros qualify for a bottle of Greek wine.By late Tuesday, more than 16,000 people had pledged a total of more than 254,000 euros, leaving just 1,599,746,000 euros to go."More details on the project founder, Thom Feeney, a 29-year-old Yorkshireman and the Greek Bailout Fund campaign
Last edited by trackstar on June 30th, 2015, 10:00 pm, edited 1 time in total.
 
User avatar
trackstar
Topic Author
Posts: 3420
Joined: January 1st, 1970, 12:00 am

Creative Thinking on Greece

June 30th, 2015, 11:25 pm

The site is back up and I made a donation.You can watch the counter which is running in real time.It's going at a rate of about 1,000-2,000 euros a minute right now. (Though there may have been a sudden spike this evening, as the site just came back online a short time ago).When I started watching: 471,149 euros from 29,660 peopleat this very moment: 473,247 from 29,788 people.Bloomberg and numerous other media outlets have picked up the story and people are leaving comments from Europe, US, and Far East - one person said hello from Malaysia.It may not raise 1.6 billion, but it is quite amazing to see the response and all the positive wishes for Greece and particularly the Greek people.
Last edited by trackstar on June 30th, 2015, 10:00 pm, edited 1 time in total.
 
User avatar
Cuchulainn
Posts: 20254
Joined: July 16th, 2004, 7:38 am
Location: 20, 000

Creative Thinking on Greece

July 1st, 2015, 12:48 pm

This whole Greek tragedy will end in katharsis. Anyway, look it up in the dictionary :D This will end in tears.
Last edited by Cuchulainn on June 30th, 2015, 10:00 pm, edited 1 time in total.
 
User avatar
trackstar
Topic Author
Posts: 3420
Joined: January 1st, 1970, 12:00 am

Creative Thinking on Greece

July 1st, 2015, 1:21 pm

Catharsis can be good though painful at the time.The Indiegogo initiative is up to over 907,000 euros today.I am not naive about the big picture, but love the effort to do something at the individual level.More press is running the story too.
 
User avatar
ppauper
Posts: 11729
Joined: November 15th, 2001, 1:29 pm

Creative Thinking on Greece

July 1st, 2015, 1:37 pm

QuoteOriginally posted by: CuchulainnThis whole Greek tragedy will end in katharsis. Anyway, look it up in the dictionary :D This will end in tears.you can't have it both ways :-)
 
User avatar
Cuchulainn
Posts: 20254
Joined: July 16th, 2004, 7:38 am
Location: 20, 000

Creative Thinking on Greece

July 1st, 2015, 2:13 pm

QuoteOriginally posted by: ppauperQuoteOriginally posted by: CuchulainnThis whole Greek tragedy will end in katharsis. Anyway, look it up in the dictionary :D This will end in tears.you can't have it both ways :-)You can't have your cake and eat it? In Dutch we say Je moet kiezen of delen ? You have to choose or partition. This is based on Dutch civil law where in a division of property one person divides the property in two parts and the other person chooses the part he likes most.
Last edited by Cuchulainn on June 30th, 2015, 10:00 pm, edited 1 time in total.
 
User avatar
trackstar
Topic Author
Posts: 3420
Joined: January 1st, 1970, 12:00 am

Creative Thinking on Greece

July 1st, 2015, 3:26 pm

Possibly my last post on this subject, but one update is worthwhile:About 12:27 pm EST999,033EURraised by 58,738 people in 3 daysClearly it is on track go over a million Euros today. I imagine that the FT might pick up the story then.There are major logistical issues and even if they make it to 10 (or even 100) million Euros in the next six days, I know, I know.But it is intriguing.I have a friend who traveled through Greece on a bicycle on a cross-Southern Europe tour (Portugal to Turkey) and has great stories about how kind and helpful people were.At that time you could leave a backpack in the middle of a town square by accident and it would still be there when you came back for it.Further, all the Greeks I know here are entrepreneurs and they all have successful small businesses. One family goes back for two weeks every year - otherwise they are open for business seven days a week.We'll see how this plays out.
Last edited by trackstar on June 30th, 2015, 10:00 pm, edited 1 time in total.
 
User avatar
Cuchulainn
Posts: 20254
Joined: July 16th, 2004, 7:38 am
Location: 20, 000

Creative Thinking on Greece

July 1st, 2015, 3:29 pm

QuotePossibly my last post on this subject,I bet 3/1 it's not.
 
User avatar
trackstar
Topic Author
Posts: 3420
Joined: January 1st, 1970, 12:00 am

Creative Thinking on Greece

July 1st, 2015, 3:36 pm

QuoteOriginally posted by: CuchulainnQuotePossibly my last post on this subject,I bet 3/1 it's not.Haha - well we'll see if there is interest, or dialogue, or any thought-provoking data.At least Thom (founder of the initiative) may be able to adapt the purpose (that could take a vote in itself from the backers) and create a non-profit to help the more vulnerable members of the population.I did check to see what some of the largest crowd funding projects in the short history of this financing form have been...the answers are surprising.
 
User avatar
trackstar
Topic Author
Posts: 3420
Joined: January 1st, 1970, 12:00 am

Creative Thinking on Greece

July 1st, 2015, 3:38 pm

well, ok you win - at 3:1 - I owe you 3 euros.12:37 EST1,000,131EURraised by 58,808 people in 3 daysWould you like to bet that the FT will pick up the story today or tomorrow?
 
User avatar
Cuchulainn
Posts: 20254
Joined: July 16th, 2004, 7:38 am
Location: 20, 000

Creative Thinking on Greece

July 1st, 2015, 3:48 pm

QuoteOriginally posted by: trackstarQuoteOriginally posted by: CuchulainnQuotePossibly my last post on this subject,I bet 3/1 it's not.Haha - well we'll see if there is interest, or dialogue, or any thought-provoking data.At least Thom (founder of the initiative) may be able to adapt the purpose (that could take a vote in itself from the backers) and create a non-profit to help the more vulnerable members of the population.I did check to see what some of the largest crowd funding projects in the short history of this financing form have been...the answers are surprising.yes! :D
 
User avatar
Cuchulainn
Posts: 20254
Joined: July 16th, 2004, 7:38 am
Location: 20, 000

Creative Thinking on Greece

July 1st, 2015, 3:48 pm

QuoteOriginally posted by: trackstarwell, ok you win - at 3:1 - I owe you 3 euros.12:37 EST1,000,131EURraised by 58,808 people in 3 daysWould you like to bet that the FT will pick up the story today or tomorrow?Sure. I bet they won't. 2/1
 
User avatar
Traden4Alpha
Posts: 3300
Joined: September 20th, 2002, 8:30 pm

Creative Thinking on Greece

July 1st, 2015, 4:17 pm

The crowd funding effort is amusing but it's less than a drop in the bucket (especially when one realizes that probably less than 20% of the money raised would actually go to the Greek government). There's also another 2 billion EUR debt payment due July 10th, 500k on July 13th, 1 million on July 17th, etc......Greece needs to raise 6 million EUR in government cash (not sales of Greek products) per hour every hour for the rest of the year.
 
User avatar
ppauper
Posts: 11729
Joined: November 15th, 2001, 1:29 pm

Creative Thinking on Greece

July 1st, 2015, 5:31 pm

QuoteOriginally posted by: CuchulainnQuotePossibly my last post on this subject,I bet 3/1 it's not.lool, when cuch says "I bet" and he wins, it's a bet, but when cuch says "I bet" and he loses, it's not a bettrack: chances are you never got paid for the horse race wager, so takes cuch's winning on this off what he owes you for the horse race