The hosting team of Italy came up short after a 74-72 loss to Greece in the last game of the day in Group A.
For the Italians it was the second loss so far and they dropped to 0-2 while Greece celebrated their first win to take a 1-1 balance.
As a result of the scores in Group A in the first two days Italy will finish last and play the 13-16 classification games.
Nikolaos Terpos led Greece with 19 points, Linos-Spyridon Chrysikopoulos added 18 and the top scorer of the first day - Georgios Mavrogiannis added ten.
Tommaso Ingrosso led Italy with 24 and seven rebounds, Nunzio Sabbatino contributed 12 and Giovanni Pini added ten with 14 rebounds for the losing side.
Greece dominated the game in the first half, but a great second half by Pini and Ingrosso helped Italy come back to the game.
The last period projected two long stretches with no points as the game got close to decision time, and Greece reacted first to capture the win.
Terpos shinned already in the first quarter with eight points as his team took a 26-18 lead after ten minutes.
He opened the second with a three-ball to carry his team to a 13 point difference as Italy was looking for the answers.
Chrysikopoulos joined the party to maintain the gap and carry Greece to a 43-31 half time margin.
Ingrosso wasn't about to give up yet and with big inside game led Italy to just five points behind, mid way in the third.
With a big push from the local fans and two long range hits one after the other the locals completed the comeback and entered the last quarter up 64-63.
Tension and nervousness had a say entering the deciding minutes after three minutes in which no team managed to score.
Chrysikopoulos adjusted himself first and scored four points in a row, as Greece took a 71-69 lead with 4:10 to play.
Once again the teams lost their focus with a miss followed turnover, until 19 seconds to go Thomas Tsalkltzis scored once from the line.
Italy took a time out and looked for a tie ball, but committed a turnover and following was an unsportsmanlike foul that helped secure the Greek win.
A three pointer with the buzzer cut the margin to two to make it look nicer, but nothing more than that.
Italy will take on the Czech Republic tomorrow while Greece will face Serbia.