Greek PM Resigns, Calls Snap September Election
Will he survive? After winning power in January with promises about ending austerity, Alexis Tsipras negotiated harsh budget cuts to avoid a Grexit but sparked rebellion among his own Syriza Party. Yesterday, he resigned and called for elections, leaving three days for opposition parties to try and form a government. This prompted 25 Syriza rebels to form their own party, Popular Unity, led by anti-bailout former energy minister Panagiotis Lafazanis. But the pending vote is raising fears about Greece’s political stability … and putting its financial lifeline at risk.