You need to know what this is about, and many papers and news channels have run the story without the background or reason for the ban. Let me explain.....
This is all came about when the new incoming government that took over in Greece in September last year intoroduced some laws/regulations regarding running the sport in Greece.
Basically, the sports minister was unhappy at the control that the big three in the greek league have over players, money and semingly influencing the refs. So he introduced some law that meant that total control for football was no longer the Greek FA's.
FIFA demands that all football is independently (of the country's government) run, so as this contravened FIFA's regulations, they (GreeK FA) where ordered in October 2005 to make sure that the law was changed or removed by 15th July 2006.
This move by FIFA is a flexing of the muscles, nothing more, and I predict that this will be sorted and the ban lifted by 15th July.
I doubt it that the ban would mean our entry to the third round, however the Italian LEague investigations, and the subsequent proposals by the prosecutors that the old lady is demoted to Serie C and Lazio, Milan and Fiorentina demoted to Serie B is more intresting and may have more legs.