And bitcoin, the so-called 'crypto-currency' could be the solution. According to Coin Telegraph, BTCGreece, the first bitcoin exchange in Greece, plans to install 1,000 bitcoin machines in partnership with bitcoin platform, Cubits.
Seeking Alternatives? 1,000 Bitcoin ATMs Are Coming To Greece: http://t.co/VXeFnWmrYR— AnonymousArmy (@AnonymousNewsHQ) September 7, 2015
Strict capital controls have been in place in Greece since June, leaving people and businesses unable to withdraw more than $66 (60 euros) a day and banned from transferring money to foreign bank accounts. This has led to more people viewing Bitcoin as a viable alternative.
"We are creating the ecosystem of bitcoin and blockchain solutions in the Greek market," BTCGreece founder Thanos Marinos told CoinTelegraph.
"That will include the roll out of 1,000 ATMs and solutions for the e-commerce and tourism industry."
But when it comes to bitcoin, the European Court of Justice recently ruled that the digital currency was not a 'taxable event' in the eyes of VAT.
This could be why the installation of 1,000 ATMs in Greece is seen as a popular move, while the traditional banking system relies on its bailout from Brussels.