A businessman will fly half way around the world next week to pay the pension of an old family friend who has become the face of Greece's economic crisis.

James Koufos, a finance CEO based in Sydney, told Daily Mail Australia he will fly to Athens in the coming days after he tracked down Giorgos Chatzifotiadis - the 77-year-old man who was photographed last week weeping uncontrollably outside a bank in Thessaloniki, thanks to social media.

Since the photo was published around the world, Mr Koufos learned Mr Chatzifotiadis was a friend of his late father, George Koufidis, and that the two went to school together in the same Greek village.

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Giorgos Chatzifotiadis was pictured outside a bank in Greece weeping after he was unable to withdraw his weekly pension

Mr Chatzifotiadis had waited in line at four banks across his city in the hope of withdrawing his 120 euro weekly pension but collapsed in despair when he was turned away multiple times.

Images of the elderly man weeping on the pavement and being helped to his feet by a policeman and another man dressed in a suit went summed up the pain being felt by ordinary Greeks as their country crumbles.

'Seeing those photos, it really hit me... I got very emotional,' Mr Koufos told Daily Mail Australia, adding that at first he was unaware Mr Chatzifotiadis was an old family friend.

'It's an amazing and rare chance to really help someone... we have been told exactly where he lives in the village. My mum (who still lives in Greece) got really emotional when she saw the story, so did I... it motivated me to do something.

James Koufos, a finance CEO based in Sydney, told Daily Mail Australia he will fly to Athens in the coming days after he tracked down Giorgos Chatzifotiadis

Since the photo was published around the world, Mr Koufos learned Mr Chatzifotiadis was a friend of his late father, George Koufidis, and that the two went to school together in the same Greek village

'I live a relatively comfortable life here in Sydney - to see someone who has worked hard his entire life and can't even get a pension to feed his wife and family, that's not right.'

Despite having the address for Mr Chatzifotiadis, the crisis has made it difficult to get in contact with him.

On Monday morning Mr Koufos launched a desperate plea on Facebook to track down Mr Chatzifotiadis. Within hours he had managed to track him down and his mother told him of the connection.

In the Facebook post he wrote: 'I urge all my Facebook friends to please help us track this man... please urgent!

'This man is a old school friend of my late father! Gap finance and I will pay this man's pension for 12 months plus !!! As long as it takes !!

Mr Koufos launched a campaign to find Mr Chatzifotiadis (above) on Facebook on Monday morning

In the Facebook post he wrote: 'I urge all my Facebook friends to please help us track this man... please urgent!

'170 euros a week ? We will give him 250 euros ! I will never allow to see a fellow Greek proud hardworking man starve !!

'Please please if anyone can help track this man down with his details I urge you to contact us pls !!!!! Pls anyone who can help with his whereabouts and details !!'

Mr Koufos plans to use some of the inheritance his father left him to help Mr Chatzifotiadis, and said it is what his dad would have wanted. Since his post on Monday morning, he has already received 'about four or five thousand euros' from other people wanting to help.

'Seeing those photos, it really hit me... I got very emotional,' Mr Koufos told Daily Mail Australia, adding that at first he was unaware Mr Chatzifotiadis was an old family friend

A man waves a Greek flag infront of the Parliament as the country reacted to the result of the referendum

'I've been getting a lot of attention over this, but it isn't about me, I don't want the focus on me,' Mr Koufos said.

'All of us are human beings and sometimes hits us in the sweet spot and we react without thinking - that's what happened to me when I saw this. I knew I had to try and do something.'

Mr Koufos's act of kindness comes after Greeks overwhelmingly rejected conditions of a rescue package from creditors, throwing the future of the country's eurozone membership into further doubt and deepening a standoff with lenders.

Tens of thousands of Greeks packed Syntagma Square, to celebrate the win of the 'Oxi' (Greek for no) side of the referendum Greek Referendum

Supporters of the No vote react after the first result of the referendum

Stunned European leaders called a summit for Tuesday to discuss their next move after the surprisingly strong victory by the 'No' camp defied opinion polls that had predicted a tight contest.

Economic experts said it was unclear what impact the crisis would have on the Australian market.

'There are links there… We would import things like olive oil and olives and Australians go there on holidays,' Dr Shane Oliver told Daily Mail Australia.

'We have a lot of Greek Australians - Melbourne is the world's second biggest Greek city.

'But in terms of direct economic impact we have a trivial exposure. The main impact on Australian business and exports is really if the turmoil in Greece triggers wider turmoil in Europe.'

Greek Finance Minister Yanis Varoufakis announced his shock resignation only hours after the heavily-indebted country delivered turned down the international bailout package

Announcing his immediate resignation in a blog post that ended with Varoufakis claiming he will 'wear the creditors' loathing with pride', he revealed that Greece's Prime Minister Alexis Tsipras had judged that his leaving the job 'might help achieve a deal'

Greek Finance Minister Yanis Varoufakis announced his shock resignation only hours after the heavily-indebted country delivered turned down the international bailout package.

Varoufakis claimed that during victory celebrations in Athens after the 'no' campaign won with a staggering 61 per cent of the vote, he was made aware that European Finance Ministers no longer wanted him to take part in talks on Greece's future.