Greek government on the phone with Brussels

russels and Athens remain in contact, however without being able to intervene in the crisis which has hit neighbouring Italy lately and is threatening to drag down the rest of the EU, too.  Greece has to wait for all phone conferences to conclude in order for the participants to come to a final agreement concerning their fight against speculators and then put the country’s crisis on the table.

As it seems, either this coming Tuesday or this Wednesday there will be a phone conference between Greek Finance ministry officials and their European counterparts to discuss the debt, probably with the participation of bank representatives, too.

On Sunday, and while ECB and G8 members were discussing the handling of the financial turmoil, the Greek PM George Papandreou had a telephone communication with EC president Herman van Rompuy and went over the Eurozone issues.   

Although Rompuy said that the ECB is ultimately expected to buy Italian bonds and thus help the de-escalation of the pressure put on Italy, Papandreou underlined that it would be a “positive development, but it is not enough”.