Washington, July 2 (IANS): The US and Italy have agreed on the need for "reform and financing" to address the Greek economic crisis, Efe news agency reported.

During a telephonic discussion 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", the White House said in a statement on Wednesday.

Both leaders said their teams were in "close contact and are monitoring economic developments in Greece as well as the broader financial markets".

Economy and finance ministers of eurozone overlooked requests from Athens and the complex economic situation in the country and decided on Wednesday not to enter into negotiations for a new bailout for Greece until the outcome of the July 5 referendum is known.

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

The eurozone ministers studied two letters sent by Tsipras to his partners, reviewed the current political situation in Greece, and decided to wait, said Eurogroup President Jeroen Dijsselbloem.

A decision by the Eurogroup is the first step towards a third bailout programme, particularly a mandate to the European Commission, which, in collaboration with the European Central Bank, will analyse the economic situation in Greece.