Combine ingredients for meatballs; mix thoroughly. Form into balls the size of walnuts. Heat olive oil in heavy skillet. Brown meat balls, and remove. Combine onion, tomato paste, water, soda, and bay leaf in the skillet with the oil and meat drippings. Bring to a boil. Reduce heat. Simmer for five minutes. Add the meat balls, continue to simmer for 45 minutes.
Per serving: 207 Calories (kcal); 11g Total Fat; (45% calories from fat); 8g Protein; 22g Carbohydrate; 140mg Cholesterol; 638mg Sodium Food Exchanges: 1/2 Grain(Starch); 1/2 Lean Meat; 3 Vegetable; 0 Fruit; 2 Fat; 0 Other Carbohydrates