Greek President Alexis Tsipras has announced his resignation after only seven months in office, calling snap elections which are rumoured to be planned for September 20th.
Speaking live on Greek television, the premier explained that he is proud of his party Syriza’s time in office, but that the Greeks deserve a chance to accept or decline the terms of the bailout they arrainged
Pundits are pointing out that this will be the fifth trip to the ballot box in less than a year for Greek citizens.
The rumoured timing of the election is surprising, with many believing that the vote would come later in the year. It may be that, with Syriza still maintaining a lead in opinion polls, an earlier election would benefit the party.
Although some sources report that a leftist section of Syriza is planning to break away and forge a competing group, there is a possibility that calling an election for such an early date might rob any separatists of the time required to formulate an opposition.
Left Platform (SYRIZA’s radicals) are waiting for #Tsipras‘ announcemenents to announce new party – state TV
— Daphne Papadopoulou (@daphnenews) August 20, 2015
Meanwhile, Martin Selmayr, who heads up European Commissioner Jean-Claude Juncker’s cabinet, has intimated that a September vote of confidence for the government could help broaden support for the program the European Stability Mechanism – responsible for stabilising crises in the Eurozone – has just implemented in Greece. Their plan was agreed on yesterday, with the first payment allowing Syriza to meet the deadline to repay a €3.2bn loan to the central bank.
Swift elections in Greece can be a way to broaden support for ESM stability support programme just signed by PM Tsipras on behalf of Greece.
— Martin Selmayr (@MartinSelmayr) August 20, 2015
Syriza’s left wing have opposed the agreement, which they see as a softening of the party’s anti-austerity stance.
Despite the ESM deal, Greece’s further economic standing remains uncertain, and Tsipras’ resignation has prompted early suggestions that the instability caused by the resignation could have a negative effect on already struggling Greek businesses.
Snap elections in #Greece is more bad news for drowning fish industry. W @charlesforelle https://t.co/dxfCeDGYvg @WSJ pic.twitter.com/CNDPh7L9xz
— Georgi Kantchev (@georgikantchev) August 20, 2015
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