Greece faces snap elections as Tsipras resigns

Greek PM Aelxis Tsipras and President Prokopis Pavlopoulos

Greek PM Aelxis Tsipras and President Pavlopoulos

Tsipras resigns: Greek Prime Minister Alexis Tsipras yesterday resigned in a bid to strengthen his mandate to push through the third bailout package agreed earlier this month with the country’s creditors, and now intends to hold snap elections on September 20. “I will go to the president of the republic shortly to submit my resignation, as well as the resignation of my government,” Tsipras said in a televised address before setting off to meet President Pavlopoulos.
His decision means that Greece faces a period of even deeper political uncertainty on the very day Greece began receiving funds under the terms of the €86bn bailout program, but the election should allow him to capitalise on his popularity with voters before the toughest parts of the latest program – including further pension cuts, more value-added tax increases and a “solidarity” tax on incomes – begin to bite. This may allow him to return to power in a stronger position without anti-bailout rebels in Syriza to slow him down.

Source: reuters