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| Greece crisis: PM Tsipras 'to hold September election' | Greece crisis: PM Tsipras 'to hold September election' |
| (35 minutes later) | |
| Greece's Prime Minister Alexis Tsipras is set to call a snap election for 20 September, according to Greek media. | 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. | 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. | 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. | 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. | 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. | 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. |
| Lost majority | Lost majority |
| Alexis Tsipras is to make a televised state address later on Thursday. | |
| He is set to submit his resignation to the president to clear the way for the elections, the media reports said. | He is set to submit his resignation to the president to clear the way for the elections, the media reports said. |
| Energy and Environment Minister Panos Skourletis said on state TV: "The certainty is that the need for elections has arisen." | Energy and Environment Minister Panos Skourletis said on state TV: "The certainty is that the need for elections has arisen." |
| Reacting to the reports, Martin Selmayr, European Commission President Jean-Claude Juncker's chief-of-staff, tweeted that "swift elections in Greece can be a way to broaden support" for the bailout deal. | |
| Some 43 of Syriza's 149 MPs had either opposed the bailout or abstained in last Friday's Greek parliamentary vote that approved the deal. | Some 43 of Syriza's 149 MPs had either opposed the bailout or abstained in last Friday's Greek parliamentary vote that approved the deal. |
| The rebellion meant Mr Tsipras, who was elected this January, had effectively lost his parliamentary majority. | The rebellion meant Mr Tsipras, who was elected this January, had effectively lost his parliamentary majority. |
| Mr Tsipras had won power on a manifesto of opposing the stringent austerity conditions that he has now accepted. | Mr Tsipras had won power on a manifesto of opposing the stringent austerity conditions that he has now accepted. |
| He said he was forced to do so because a majority of Greeks wanted to stay in the eurozone, and this could not be achieved in any other way. | He said he was forced to do so because a majority of Greeks wanted to stay in the eurozone, and this could not be achieved in any other way. |
| Greece remains under strict capital controls, with weekly limits on cash withdrawals for Greek citizens. | Greece remains under strict capital controls, with weekly limits on cash withdrawals for Greek citizens. |
| If a government resigns within a year of election, the constitution requires the president to ask the second-largest party - in this case the conservative New Democracy - to try to form an administration. | If a government resigns within a year of election, the constitution requires the president to ask the second-largest party - in this case the conservative New Democracy - to try to form an administration. |
| If this fails, the next largest party must be given a chance. | |
| However, analysts say both parties can waive this and allow the president to approve the snap election. |