Yanis Varoufakis, the Greek finance minister, arrives for a meeting with Pierre Moscovici, the EU commissioner for economic and financial affairs, taxation and customs

Greece has announced a surcharge on cashpoint withdrawals and financial transactions in an attempt to stop capital flight out of the country’s banks and raise cash as the Greek government faces bankruptcy.

The move came as the European Commission warned today that Greece is slipping into bankruptcy with rocketing debt after the election of a leftist government three months ago triggered the latest political crisis with the eurozone.

The cashpoint measure, which requires approval by the European Central Bank (ECB), will raise €180 million as the government in Athens desperately tries to avoid default by raising money to make loan repayments to international creditors.

“The surcharge is just one of a grab-bag of measures we are considering if things get tough,” a senior finance ministry