Tag

The banks are being kept afloat by emergency cash from Europe’s central bank, but urgently need a longer term solution.

The fifth parliamentary elections in six years look like a near certainty to take place next month, with reports of September 20 being the preferred date. It would be the third time this year that Greeks vote, after January elections and a July 5 referendum on reforms proposed by...

A yes vote from the German parliament is not in doubt, although there have been nagging questions for chancellor Angela Merkel about divisions within her own conservative ranks.

When the Parliament last voted in July on opening new bailout negotiations with the leftist-led government of Prime Minister Alexis Tsipras, 60 of Merkel’s MPs went against her. In a test vote on Tuesday ahead of the debate, 56 members of her bloc voted against the package...

“I call for a strong mandate for a stable government, ” Tsipras declared, noting that the approved bailout program includes measures to reduce the burden of the recession that will be brought on by the anticipated austerity plan. Elections will be held within a month, with...

In an address to the nation, Mr Tsipras said that he would shortly meet with the “president of the republic” and present his and his government’s resignation.

In a live televised address to the nation, the 41-year-old premier said he had worked hard to secure the best possible rescue package for his country, but he now needed a clear new mandate from the Greek people after it cost him his parliamentary majority.

According to media reports, if Meimarakis fails, Greece could hold snap parliamentary elections as early as on September 20.

Mr Tsipras had delayed a decision on whether to call a new election until after Greece received its first instalment from the new bailout and made a debt repayment to the European Central Bank; it did both on Thursday.

But the bailout is conditional on Greece imposing stringent spending cuts and tax hikes – the very measures Tsipras won elections in January vowing to repeal.

Rebels angered by Greece’s worldwide bailout walked out of the leftist Syriza party on Friday, formalising a widely-expected split after leader Alexis Tsipras resigned as prime minister to pave the way for early elections.

The formation of the Laiki Enotita, or Popular Unity party, was announced by 25 Syriza members, hours after Tsipras stepped down as prime minister in a calculated action to consolidate power in a new election.

Greece will go to the polls next month after Prime Minister Alexis Tsipras resigned on Thursday evening.

But, he’s previously proclaimed his loyalty to Tsipras and current finance minister Tsakalotos, who he considers “good friends” and said he enjoys the life of a backbench MP.

Amid a growing revolt from the ranks of his own Syriza party and discontent about the course of Greece’s necessary reforms, Greek state broadcaster reported that prime minister Alexis Tsipras will call snap elections after a meeting with his senior advisors, happening now...