Greek Prime Minister resigns: Greece under Tsipras
Alexis Tsipras, Greece’s prime minister, resigned on Thursday August 20th and called a snap election, to be overseen by an interim administration.
The decision follows a split within his left-wing Syriza party over a new bail-out deal with Greece’s creditors. Over the past few months up to a third of Syriza MPs have blocked parliamentary votes on the bail-out package, which only passed because of support from opposition parties.
A fresh election could help Mr Tsipras regain control of his party and establish a more stable government. According to opinion polls he is likely to win a new election, but would require coalition partners for a parliamentary majority. Since January’s election Syriza has ruled in coalition with the small, right-wing Independent Greeks party. But soon he may find that he needs more friends.
Mr Tsipras’s announcement came after debt-crippled Greece paid a huge debt to the ECB on Thursday, effectively starting its third mammoth bailout, expected to cost as much as 86 billion euros ($131 billion) over the next three years.
The elections is expected to be held on September 20, as it was reported from Greece.
Greece Under Tsipras:
Source: The Economist, news.com.au
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