Website crowdsourcing to bailout Greece has crashed due to high traffic demands

A CROWDSOURCING page aiming to raise the money needed for a bailout of Greece has crashed due to high traffic.

Demonstrators gather during a rally organized by supporters of the YES vote for the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015. At midnight central Europe-time on Tuesday, the country is set to become the first developed nation to miss a debt repayment to the International Monetary Fund, as Greece sinks deeper into a financial emergency that has forced it put a nationwide lockdown on money withdrawals. (AP Photo/Petros Karadjias)

GREECE is in the grips of a debt crisis that threatens to cripple Europe.

At 8am AEST it became the first developed nation to default on an International Monetary Fund loan after the midnight deadline expired, with the country losing access to existing financing.

The default comes after lengthy talks with European creditors failed to find an agreement to extend funding.

Greece could be forced out of the euro, which is unprecedented, and could have ramifications for the global economy.

So instead of waiting to see whether Greek and European leaders could find a solution to the crisis, 29-year-old British man Thom Feeney formulated a crowdsourcing campaign to provide Greece with the money it needs for a bailout.

Decided to solve the Greek Debt Crisis via crowdfund. All I need is for everyone in EU to buy a Feta and Olive salad https://t.co/vOXKyBOJhZ

— Thom Feeney (@ThomFeeney) June 28, 2015

However, the campaign encountered some trouble when it became so popular that it crashed crowdsourcing website Indiegogo.

Currently when users try to visit to the Indiegogo campaign, they are taken to an error page.

“The Greek Bailout Fund campaign page is experiencing some issues due to its astonishing popularity. It should be back up shortly,” the notice reads.

“Follow us on Twitter and we’ll let you know when it’s back up.”

We're experiencing connectivity issues due to overwhelming worldwide interest in the @GreekBailout campaign. Thanks for your patience.

— Indiegogo (@Indiegogo) June 30, 2015

Reports before the crash claim the page had raised €250,000, which is well short of the required €1.6 billion.

While it is impossible to determine the current funds raised, it appears the fundraising effort — and the technical set back — will make the public effort too little too late.