800.51W89 Italy/211
Memorandum by the Under Secretary of State (Phillips)
The Italian Ambassador asked me to bear in mind that he stood ready to take up the question of debt negotiations whenever this Government was inclined to do so. He understood that the debt situation vis-à-vis Great Britain was far more important than that vis-à-vis Italy and that he was merely biding his time until the proper moment. Inasmuch as he was not going to press for any debt negotiations, he did not wish to convey the impression that he was indifferent to the subject. He asked me to give him a tip whenever the right moment had arrived for him to open up the subject.