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German lawmakers on Wednesday approved a third bailout package for Greece, despite substantial opposition within its parliament.

Yes. It’s bad. Panagiotis Lafazanis, the former energy minister and leader of the “Left Platform” faction in Syriza, is forming a new movement aimed at overturning the bailout.

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...

Germany has so far maintained a cautious stance.

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.

The country is due to contribute some 10.1 billion euros ($11.14 billion) of the 86 billion-euro package for Greece.

The vote’s result also seemed to dispel any speculation that Chancellor Angela Merkel would have difficulty getting her conservative bloc to sign on.

“I am resigning because I have now exhausted the mandate which the public gave me in January’s general election”, Tsipras said during his televised address on Thursday night.

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 political mandate of the January 25 elections has exhausted its limits and now the Greek people have to have their say”, Tsipras said in a televised address Thursday night.

As Prime Minister Alexis Tsipras announced his resignation late last week, he scheduled elections for September 20.

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.

The bailout was in “the interests of Greece and Europe”, Schaeuble told the Bundestag.