Embattled Greek Prime Minister Alexis Tsipras announced his resignation during a national televised address on Thursday evening and called for snap elections to be held later this month.
"I leave myself to your judgement with my consciousness clear," he told Greeks. "You the people will decide whether we avoided the worst," he said, referencing the massive bailout deal that was approved earlier this summer. "Despite hardship, I remain optimistic. We haven't seen our best days yet," he added.
Shortly, I will submit my resignation, as well as the resignation of my Government, to the President of the Republic. #Greece— Alexis Tsipras (@tsipras_eu) August 20, 2015
On Twitter, he added: "The popular mandate I received on January 25th has run its course. Now, the sovereign people of Greece must weigh in."
The popular mandate I received on January 25th has run its course. Now, the sovereign people of #Greece must weigh in.— Alexis Tsipras (@tsipras_eu) August 20, 2015
Tsipras has suffered a "rebellion" among lawmakers in his Syriza party over the past seven months, Reuters reported on Thursday, which forced him to rely on the opposition to approve Greece’s bailout deal.
As a result, the government was long rumored to be considering such action, but had said its priority was getting the first bailout installment and making a debt repayment to the European Central Bank, both of which it did Thursday.
"The certainty is that the need for elections has arisen," said Energy and Environment Minister Panos Skourletis on state television ahead of Tsipras's address. He added that there are two reasons for the snap polls, which would come just nine months after the government came to power: Dozens of Tsipras' fellow party members voted against the government on the bailout deal, and Syriza is part of a government that needs to implement a program that is different to that which it was elected for.
Once Tsipras's resignation is official -- he is expected to formally hand it in later this evening -- the President of the Supreme Court of Greece, Vassiliki Thanou, 65, will step in as interim prime minister, according to Greek law.
Vassiliki Thanou, 65 yrs old, President of the Supreme Court of Greece, tomorrows Prime Minister of GR till elections pic.twitter.com/xdXHxVGizU— George Mitakides (@GMitakides) August 20, 2015
Ultimately, though, the elections could serve to benefit Tsipras.
"A snap election should allow Tsipras to capitalize on his popularity with Greek voters before the toughest parts of the program begin to bite," said Reuters, which could "allow him to return to power in a stronger position without anti-bailout rebels in his radical left Syriza party to slow him down."
The news was met with early encouragement by Martin Selmayr, who serves in the president of the European Commission's cabinet.
Swift elections in Greece can be a way to broaden support for ESM stability support programme just signed by PM Tsipras on behalf of Greece.— Martin Selmayr (@MartinSelmayr) August 20, 2015
Greek markets were slightly down.