Greek Prime Minister Alexis Tsipras to Resign
The prime minister and leader of the Syriza party will submit his resignation to the country’s president Thursday, making way for early elections scheduled for Sept. 20, government officials report.
Greek Prime Minister Alexis Tsipras. (360b / Shutterstock)
Greek Prime Minister Alexis Tsipras will submit his resignation to the country’s president Thursday, making way for early elections scheduled for Sept. 20, government officials report.
Tsipras’ resignation comes at the end of seven bruising months in office, at the start of which hope was high that his government would beat back the eurozone’s Germany-led troika of creditors and the budgetary austerity it has imposed on Greece.
After campaigning against austerity and holding a referendum that expressed public opposition to the troika, Tsipras accepted tax increases and spending cuts demanded in exchange for a third bailout.
Reuters reports:
Tsipras effectively lost his parliamentary majority after a rebellion by hardliners in his Syriza party who oppose a bailout agreement struck with international lenders.
Tsipras had been expected to seek early elections to quell a rebellion in his leftist Syriza party and seal support to implement a tough bailout program. Ministers have openly debated for days about what the government should do after a large number of hard left Syriza lawmakers refused to back the 86 billion euro ($96 billion) bailout in parliament on Friday.
Tsipras won power only in January and Greece’s complex constitution has special stipulations for holding elections less than 12 months after the previous vote. Under these, President Prokopis Pavlopoulos cannot immediately call an election if Tsipras resigns, but must first consult the other major parties to see if they could form a government – a remote likelihood with the current parliamentary arithmetic.
Read more here.
— Posted by Alexander Reed Kelly.
Wait, before you go…If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
The “economic textbooks” CBS cites in its warning on debt are questionable.
Double-digit unemployment and rising inequality have ravaged the continent. A return to traditional currencies may offer a solution.
The Italian banking crisis that could take down the eurozone has been called “a bigger risk than Brexit." Handwringing officials say there is “no magic bullet,” but a British professor, Richard Werner, says remedies are just being ignored.
The timing couldn't be better for this new book, which recounts the tragic irony of how the euro, which was supposed to bring Europe together, is in fact driving it apart.
China, Europe and Japan are driving down the value of their currencies in order to make their exports more attractive on the global market, leaving millions of workers in associated industries “protected or vulnerable, depending on which side they find themselves,” writes Guardian economics correspondent Phillip Inman.
Most of Sunday's snap general election results are in -- and it seems Syriza has claimed another important victory in Greece and Alexis Tspiras will continue to lead the country.
There are currently no responses to this article.
Be the first to respond.