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Thursday 20 August 2015

Greece Crisis: PM Tsipras To Hold September Election.

Mr Tsipras
Greece's Prime Minister Alexis Tsipras is set to call a snap election
for 20 September, according to Greek media.
Mr Tsipras has faced a rebellion within his ruling hard-left Syriza party over a new bailout deal which has been agreed with international creditors.
Greece received the first €13bn ($14.5bn) tranche on Thursday, allowing it to repay a debt to the European Central Bank and avoid a messy default.
But the austerity measures needed for the deal angered many in his party.

Mr Tsipras had to agree to further painful state sector cuts, including far-reaching pension reforms, in exchange for the bailout - and keeping Greece in the eurozone.
The overall bailout package is worth about €86bn over three years. The payment of the first tranche was made on Thursday after the bailout deal - Greece's third in five years - was approved by relevant European parliaments.
Source: BBC

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