President Barack ObamaBarack Hussein ObamaAll five living former presidents to attend hurricane relief concert Overnight Health Care: Schumer calls for tying ObamaCare fix to children's health insurance | Puerto Rico's water woes worsen | Dems plead for nursing home residents' right to sue Interior moves to delay Obama’s methane leak rule MORE called German Chancellor Angela Merkel on Sunday to discuss efforts to help the Greek economy.

Obama and Merkel spoke while the president was at Hampton University to deliver the school's commencement address.

"President Obama spoke with Chancellor Merkel this morning as part of his ongoing engagement with European leaders with regard to the economic situation there," White House Deputy Press Secretary Bill Burton told a pool reporter.

"They discussed the importance of the members of the European Union taking resolute steps to build confidence in the markets," Burton added.

Germany has been seen as key to assembling a bailout for Greece as it weathers a massive debt crisis that has put it on the brink of default. The prospect of default has roiled European financial markets, and spread globally.

The Euro Zone approved a bailout of roughly $145 billion in U.S. dollars this weekend to assist the Greek economy.