Hodgkin-Huxley model neurons coupled by weak excitatory interactions a
re studied by a phase reduction technique. All the information about t
he coupling between the neurons and their synchronization is then cont
ained in an effective interaction between their phases. One shows anal
ytically that an excitatory coupling can result in an effective inhibi
tion between the neurons reducing their firing rates. Systems of two n
eurons exhibit bistability and out-of-phase locking. It is suggested t
hat these features may have significant consequences for networks.