The Italian Football Federation (FIGC) has moved to deny reports claiming head coach Roberto Donadoni has been sacked.
A report on Tuesday claimed that Donadoni's time in charge of the World champions had come to an end.
However, an FIGC spokesman has dismissed the claim, explaining that no official announcement has been made and the Federation will hold a meeting next week.
"There is nothing official," the spokesman said.
The former Livorno boss is under weighty pressure following the Azzurri's poor showing at Euro 2008, which saw the country crash out on penalties against Spain at the quarter-final stage.
"Resign? The thought would never even entered my brain," Donadoni said on Sunday. "I don't have a reason. We only lost a game on penalties.
"You can't say things work when you win but don't work when you lose on penalties. We will talk and decide. It doesn't make any sense to talk about whether I deserve to carry on."
FIGC President Giancarlo Abete gave no clues as to whether the coach would be retained when asked after the defeat.
"Over the next few days we will reflect and make a decision about this," he said. "It doesn't make any sense to make a decision in the heat of the moment.
"In the next few days we will discuss what will happen. We'll retrace our steps," he added.
Donadoni, who took over from Marcello Lippi after the World Cup triumph in 2006, signed a two-year contract extension just before the European Championship Finals, but an escape clause allows the coach, or the Federation, to terminate the deal if they failed to make the semi-finals.
Lippi is reported to be favourite to take over from Donadoni and return to the job ahead of the 2010 World Cup qualifying campaign.
Source: Sky Sports