WASHINGTON: The US and Italy have finally settled on the need for “reform and financing” in order to address the Greek economic issues, reports said.

In a telephonic conversation between US President Barack Obama and Italian Prime Minister Matteo Renzi, the leaders “agreed on the importance of working together to put Greece back on a path of reforms and financing that leads to growth and debt sustainability within the Eurozone”, a statement from the White House explained on Wednesday.

The leaders during the meeting discussed that both the teams were in “close contact and are monitoring economic developments in Greece as well as the broader financial markets”.

The Economy and Finance Minister of Eurozone has overlooked the request from Athenes and complex Economic situations of the country on Wednesday and have taken a call to not enter into negotiation for a news bailout for Greece until the outcome of the July 5 referendum is known.

As informed by Greek Prime Minister Alexia Tsipras, the country would hold a referendum on July 5 on the latest debt deal proposed by its international creditors.

The Eurozone ministers have studied the two letters sent to him by Tsipras to his partners and has reviewed the current political situation in Greece, and has decided to wait, explained Eurogroup President Jeroen Dijsselbloem.

The decision taken by the Eurogroup is the first step towards the third bailout progamme, particularly a mandate to the European Commission, wherein the collaboration with the European Central Bank will analyze the Economic situation in Greece.


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