Tax on ATM cash withdrawals

[mf-tzo]

charging 1 eur in 1,000 withdrawal is the least of our problems in Greece. The main problem is that BTS is not yet mature  and we are obliged to keep this 1,000 euro in our defaulted banks..

In any case if they impose such tax all that they will achieve is to piss people even more and withdrawals will increase rather decrease..idiots..

[Akado]

In Portugal that was something that was talked for a couple days but quickly dismissed after. Though I think this kind of stuff can happen in any of these countries in a bad financial situation

[onceuponatime]

From Agora Financial's  5 min. forecast:


"And we Americans complain about ATM fees: Greece is about to impose a tax on cash withdrawals.

It's not official yet. The buzz is it'll be one euro for every 1,000 Greeks withdraw.

For the Greek government, it's a two-fer: It discourages people from cleaning out their bank accounts in a panic, thus shoring up the finances of Greek banks. And it could generate as much as $202 million in revenue -- maybe enough for Greece to meet the next interest payment on its bailout loans later this month.

It's still not official yet. The European Central Bank has to sign off. But seeing as the ECB is one of Greece's creditors, is there any doubt?

But wait... If it's not yet official, what's to stop anybody from cleaning out their account in advance of the directive becoming official? And what would that do to the banks' finances?

Grab the popcorn... "