The government will table legislation allowing Greek citizens who voluntarily disclose foreign bank accounts to pay a 15-percent tax on that money with no more questions asked, according to Yanis Varoufakis on Tuesday, following a meeting he held with Swiss officials at the Finance Ministry.

If they decide to transfer said money to Greek banks, then the tax cut will be much less.

With the “carrot” came the “stick”, as well, as Yanis warned that failure to reveal hidden (and untaxed) accounts abroad will result in a tax audit in Greece.

The same regime will apply to taxpayers who hide offshore income.