European Commission's mission chief for Greece, Declan Costello speaks as he attends a Economic conference in Athens, Thursday, May 31, 2018. Greece is currently negotiating the terms of its bailout exit with European creditors, including how its finances will be monitored and the conditions of a promised debt relief package. (AP Photo/Petros Giannakouris)

EU official: Greek market access 'fragile' amid Italy crisis

May 31, 2018 - 9:01 am

ATHENS, Greece (AP) — A top European Union official in Greece says the country's access to bond markets remains "fragile" amid the ongoing financial turmoil triggered by the political standoff in Italy.

European Commission envoy Declan Costello made the cautionary remarks at a financial conference in Athens Thursday, as Greece prepares to end its third consecutive international rescue program in late August with plans to make a full return to markets.

Separately, the Finance Ministry announced a decision to further ease capital controls imposed in 2015, raising the monthly cash withdrawal limit for depositors from 2,300 to 5,000 euros ($2,690 to $5,850). Daily business limits on payments abroad will be increased from 20,000 to 40,000 euros ($23,400 to $46,800).

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