European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing eurozone capital controls as a worst-case scenario should Athens decide to leave the euro.
EU officials have said the ideas are part of a range of contingency plans. They emphasised that the discussions were merely about being prepared for any eventuality rather than planning for something they expect to happen.
But with increased political uncertainty in Greece following the inconclusive election on May 6 and ahead of a second election on June 17, there is now an increased need to have contingencies in place, the EU sources said.
Meanwhile, with days to go before Sunday’s election, which could decide Greece’s future in the eurozone, the Spanish deal has been dragged into a campaign being fought largely over the harsh conditions imposed under Greece’s own €130bn bailout.