• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

2

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

3

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

1

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

2

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

3

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
LeadershipGreece

Why snap elections in Greece is a smart bet for Alexis Tsipras

By
TIME
TIME
Down Arrow Button Icon
By
TIME
TIME
Down Arrow Button Icon
August 20, 2015, 4:09 PM ET
Alexis Tsipras
ATHENS, GREECE - JANUARY 25 : Syriza’s leader Alexis Tsipras speaks as his left-wing Syriza party has won Greek parliamentary elections with just over 35 percent of the votes, official results suggest, in Athens, on January 25, 2015. (Photo by Ayhan Mehmet/Anadolu Agency/Getty Images)Photograph by Ayhan Mehmet —Anadolu Agency/Getty Images

By Simon Shuster/TIME

It’s one of the most basic rules of electoral politics—keep your campaign promises or you will lose the support of your voters—but Greek Prime Minister Alexis Tsipras has deftly managed to skirt that rule. On Thursday, when he announced that he will resign and call snap elections for September 20, Tsipras wagered that voters would stay behind him regardless of the fact that he has failed to keep most of his core campaign pledges. And he is probably right.

At the end of July—after he had abandoned hopes of shielding the Greek welfare state from further cuts and austerity measures—Tsipras’ approval rating was still at a comfortable 60% in all the major polls. Even now he is comfortably ahead of any other political leader in the country, and his move on Thursday to call elections is intended to lock in that support.

He’s going to need it. Under the terms of the bailout deal that Tsipras secured this week, Greece will receive around $95.2 billion in foreign loans in order to avoid bankruptcy over the next three years. But as a condition of providing this lifeline, Greece’s troika of creditors—the European Union, the European Central Bank and the International Monetary Fund—insisted on a new set of painful reforms for the Greek economy.

Those reforms will give Greek voters plenty of reasons to resent their government. They will see tax hikes, pension reductions and deep cuts to their health and social welfare systems. For many Greeks this will feel like a betrayal, because they elected Tsipras in January on a promise to avoid exactly these types of measures. His radical left-wing political party, Syriza, had based its campaign on a pledge to end austerity and preserve the social safety net. Instead, Tsirpas accepted some of the harshest bailout terms Greece has ever faced from its creditors.

That has resulted in a mutiny within his party. About a dozen of its more radical leftists announced last week that they would split off to form a new anti-bailout movement. “The fight against the new [bailout] Memorandum starts now, by mobilizing people in every corner of the country,” said the statement from Panagiotos Lafazanis, the leader of the far-left wing of the Syriza party.

But even if their splinter group takes some votes away from Syriza, it will not be enough to challenge the party’s lead in the polls. At the end of last month, Syriza’s approval numbers were above 40%, far ahead of the closest challenger, and at this point, that popularity seems to derive much more from the party’s leader than its anti-austerity bona fides.

Throughout his seven months of intense negotiations with the creditors, Tsipras has channeled the Greek sense of victimhood to blame the troika for all of his failures at the negotiating table. He blamed the troika for forcing Greece to close its banks at the end of June in order to save them from running out of money. He blamed Germany for trying to push Greece out of the European currency union. After each failure to win concessions from the troika, he went on TV to convince the Greek public that he had done the best he could. And it always seemed to work. “We know that no one is behind Tsipras pulling his strings,” said Julie Bagietakou, a social worker in Athens, even after her Prime Minister failed to win any debt relief for Greece in July. “We trust him to do what’s right for the people.”

For her, as for many Greeks, Tsipras’s appeal came from being a new face in Greek politics, not beholden to the establishment parties that had ruled the country for decades before he came to power in January. One irony of his tenure is that Tsipras has increasingly relied on these establishment parties in parliament in recent weeks to approve the new bailout deal even when his own Syriza comrades refused to vote for it.

Those dissenters are now set to break away from the party and go it alone, leaving Tsipras to drift ever further toward the mainstream center-left of Greek politics. After the snap elections, he may need to form a coalition with some of the establishment forces that he claimed to despise less than a year ago. It would be yet another U-turn in a premiership defined by little else. But his core supporters will likely forgive him, as they have so many times already in his short time in office.

This article was originally published on Time.com.

About the Author
By TIME
See full bioRight Arrow Button Icon

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

You wouldn’t put your entire 401(k) in one stock. Why are you doing it with your credit card points?
Personal FinancePersonal Finance Evergreen
You wouldn’t put your entire 401(k) in one stock. Why are you doing it with your credit card points?
By Catherina GioinoMay 22, 2026
41 minutes ago
Gabrielle Judge, a content creator known as “Ms. Anti Work"
SuccessWorkplace Innovation Summit
Founder of Ms. Anti Work says her ‘lazy girl job’ allowed her to only work a few hours a day—and she built her media company on the side
By Emma BurleighMay 22, 2026
1 hour ago
cowen
Future of Workdisruption
Top economist Tyler Cowen on the biggest problem of the AI age: not mass unemployment but adjusting to a new reality
By Nick LichtenbergMay 22, 2026
1 hour ago
matthew prince
AILayoffs
Cloudflare posted record revenue, then cut 20% of its workforce. CEO Matthew Prince says AI has made an entire category of workers obsolete
By Jake AngeloMay 21, 2026
11 hours ago
Meta laid off 10% of its workforce as Mark Zuckerberg warns that in the AI race ‘success isn’t a given’
AILayoffs
Meta laid off 10% of its workforce as Mark Zuckerberg warns that in the AI race ‘success isn’t a given’
By Marco Quiroz-GutierrezMay 21, 2026
13 hours ago
ro khanna
AITech
Ro Khanna blames ‘clueless’ boomers for Gen Z booing AI: They handed over a ‘broken economy’
By Jake AngeloMay 21, 2026
14 hours ago

Most Popular

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
2 days ago
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
17 hours ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
2 days ago
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
Workplace Culture
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
By Sydney LakeMay 20, 2026
2 days ago
A 'proudly autistic' workplace expert says putting neurodivergent employees in a typical office is like dropping a polar bear in Austin, Texas
Conferences
A 'proudly autistic' workplace expert says putting neurodivergent employees in a typical office is like dropping a polar bear in Austin, Texas
By Tristan BoveMay 20, 2026
2 days ago
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Future of Work
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
By Mike Householder and The Associated PressMay 17, 2026
5 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.