Greek Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis were in Rome yesterday for meetings with their respective Italian counterparts Matteo Renzi and Pier Carlo Padoan, to discuss the government’s proposals on debt relief and how to make the economy sustainable so as to end the crisis.

At a joint press conference after his meeting with Matteo Renzi, the Greek premier reiterated that his government has specific proposals to meet its debt obligations without deficits and loans, noting that European citizens and creditors have nothing to fear. Rather than creating rifts in Europe, “we want solidarity, social cohesion and a return to the founding values of Europe," he remarked. He further noted that it is necessary for Europe to change, that the new government is open to alternative proposals, and that Greece needs some time to form a plan for the reconstruction of its economy with sweeping reforms.

On his part, the Italian premier noted that the Greek election brought a message of hope for an entire generation battered by the crisis that needs to be taken into account, and that Italy is willing to co-operate on bilateral as well as on European levels.

Speaking to the press after his meeting with Padoan, Varoufakis said the two sides had a discussed a 'road map' for the next few years, as well as issues raised in his talks with his French and British counterparts in Paris and London on the previous days. These issues will also be examined in the course of his meeting today with European Central Bank President Mario Draghi and tomorrow when he meets with his German counterpart Wolfgang Schaeuble.

Meanwhile, in an article on his blog yesterday, American economist and Economic Sciences Nobel laureate Paul Krugman argues that the latest Greek proposal for a "smart debt engineering" with the growth clause and perpetual bonds is "completely reasonable …the key point is to grant Greece some relaxation – but not elimination – of the requirement that it run large primary surpluses, thereby creating room for recovery."