A senior finance ministry official referred to the government’s consideration of a surcharge to prevent Greek citizens from withdrawing cash. Government ministers told The Times that they hope to raise 180 mln euros or 1 euro for every 1,000 euro transaction through the scheme provided the European Central Bank (ECB) gives the green light.

Withdrawals exceeded 15 bln euros in the run up to the January elections that brought the Radical Left Coalition (SYRIZA) government to power. Greek residents reportedly stashed wads of money under bathroom tiles and floorboards. Economic uncertainty may have caused people to withdraw, but placing a surcharge on these withdrawals may offset the action causing people to think twice.