June 17, 2021



Varoufakis: Small surcharge in ATM withdrawals considered… and then revoked!

Two hours later, with a written statement, the Finance Ministry revoked the proposal for taxation of ATM or bank withdrawals.

The Finance Ministry stated that the proposal was originally directed to the Greeks by the lenders, and almost “celebrates” the fact that said proposal was taken off the table when the Finance Ministry reacted negatively to it!

Earlier report:

A slight surcharge on ATM or bank withdrawals may be imposed, according to FinMin Yanis Varoufakis on Tuesday.
Even though he earlier admitted that “we are within the framework of a monetary union without limits to money transfers”, when asked whether he will apply any new taxes to people withdrawing their own money, the brash FinMin said the leftist government is examining the possibility of small surcharge on ATM withdrawals.

As he said, this is one of the measures under consideration to cover the fiscal gap, i.e. a looming budget deficit.
Varoufakis, however, said that there will “never ever” be a tax on deposits — as opposition to a “small surcharge” when you take the money out…

He also claimed that the possible implementation of such a surcharge will act to counter the use of cash and to promote promote the use of (… commercial bank issued) credit and debit cards.


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