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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.

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.

His U-turn in accepting the demands by the country’s creditors led to outrage among hardliners in his Syriza party, with dozens voting against him during the bailout’s ratification in parliament last week.

The final vote was 454-113, with 18 politicians choosing to abstain, following concern that Chancellor Angela Merkel could face dissent from conservatives in her ruling bloc.

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...

The new three-year bailout package – Greece’s third bailout in little more than five years – is worth a total of 86 billion euros ($96 billion), and the gradual disbursement of funds depends on the Greek government implementing a series of reforms, including...

“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.

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.

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.

European bailout fund supervisors approved the release Wednesday evening.

In an announcement on national Greek television, seven months after taking office on the promise of rolling back austerity and staunchly opposed to additional bailouts from Europe, Greek prime minister Alexis Tsipras has resigned.

Finance ministers of the 19-nation euro single currency group have approved the first 26 billion euros ($29 billion) of a vast new bailout package to help rebuild Greece’s shattered economy.