Greece’s Tsipras resigns, calls snap polls after party revolt

Athens: Greek Prime Minister Alexis Tsipras announced his resignation and called for snap elections yesterday, as he went on the offensive to defend the country’s massive bailout after it triggered a rebellion within his own party.
The election is expected to be held on September 20, the local news agency reported, citing government sources.

“I will shortly meet with the president of the republic and present my resignation and that of my government,” Tsipras said.

“I want to submit to the Greek people everything I have done (since taking office in January) so that they can decide once more,” Tsipras added.

The move leaves Greece in the hands of a caretaker government until the vote.

Tsipras’s announcement came after debt-crippled Greece paid a huge debt to the ECB yesterday, effectively starting its third mammoth bailout, expected to cost as much as 86 billion euros (USD 96 billion) over the next three years.

The election would be the second in eight months in Greece.

Tsipras took the decision to call snap polls after meeting with members of his cabinet and as speculation swirled that he was to step down in a bid to regain office with a stronger hand.