Well, that was fun.
So, Tsipras has resigned and Greece is heading toward elections in September. As the graphic above illustrates, the third memorandum split Syriza. The far-left faction, aptly named Left Platform, remains opposed and is in the process of forming its own parliamentary group. Lafazanis (former energy minister is Tsipras’ government) will likely lead this new party into election next month. So, it looks like the Greek political scene is about to become more fractured and unstable. Although Tsipras and his new-model Syriza will likely carry the election, it’s anyone’s guess how much of the vote they receive. The most recent polls, which are somewhat outdated, put Syriza at ca. 32-35%, which is not enough for a majority. That said, Tsipras remains quite popular, despite his poor track record while in office. θα δουμε….