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Greece’s Prime Minister Alexis Tsipras set to resign

Greek Prime Minister Alexis Tsipras As Deal Talks IntensifyGreek Prime Minister Alexis Tsipras As Deal Talks Intensify
Alexis TsiprasPhotograph by Kostas Tsironis — Bloomberg via Getty Images

Greece’s Prime Minister Alexis Tsipras will submit his resignation to the country’s president later Thursday to clear the way for early elections on Sept. 20, according to a government official.

Tspiras, who was elected in January, is expected to make a televised state address on Thursday evening.

He had effectively lost his majority in parliament after a rebellion by hardliners in his leftist Syriza party who oppose a bailout agreement struck with international lenders. Tsipras had been expected to seek early elections to quell the rebellion.

Tsipras hopes the new elections will allow him to win a stronger mandate to implement the bailout deal, backed by a new lineup of Syriza lawmakers that is more likely to support the government, The Wall Street Journal noted, adding that opinion polls suggest he is well placed to win another term as prime minister.

The German parliament approved a third bailout for Greece on Wednesday after Finance Minister Wolfgang Schaeuble said the country should get “a new start.”