Greece narrowly escaped an exit from the 19-member eurozone in July following months of uncertainty after the government and its worldwide creditors struck a bailout “aGreekment” in a reform-for-aid deal for the debt-stricken country.
Greece’s main opposition party launched efforts to form a new government Friday following Prime Minister Alexis Tsipras’ resignation, but made no progress in what appears a doomed task – which will pave the way for another potentially destabilizing election.
Gerovasili refused to give details on a potential early election, but said any action would come after August 20, when Greece has to make a large debt repayment to the European Central Bank. The terms also create problems for Prime Minister Alexis Tsipras, who faces waning...
When the Greek parliament voted on the bailout deal, a quarter of Tsipras’ lawmakers voted against him or abstained, leaving his coalition government relying on opposition party support to pass legislation.
Tsipras submitted his resignation after facing the largest rebellion yet within his own Syriza party when a third of his legislators voted against or abstained from voting on austerity bailout measures required to reach a deal with European creditors.
The bill on the rescue deal passed just in time for Greek Finance Minister Euclid Tsakalotos to head to Brussels to meet his counterparts from the 19-country currency union in the hope of getting their seal of approval as well.