Political developments in Greece revolved squarely around the prospect of snap elections next month, whereas most of the planet on Monday was shocked by the same-day crash on global markets, while Europe focused on the thousands of Third World migrants trying to make it to the continent’s north.
Speaking to his ruling SYRIZA party’s political secretariat, PM Alexis Tsipras said the goal is a new and clear four-year mandate for his radical leftists, a more-or-less tall task given that the party split last week, with the far-left and anti-bailout wing departing.
In an attempt to boost his leftist and unconventional credentials, Tsipras also precluded the possibility of post-electoral cooperation with what he called “systemic forces of the old political system”.
He also warned that the upcoming election should not be turned into a “civil war of the left”.
Meanwhile, Moody’s on Monday termed Tsipras’ abrupt resignation and call for snap elections as a “credit positive” event.
“Last Thursday, Greece (Caa3 review for downgrade) Prime Minister Alexis Tsipras stepped down as head of government and called for early elections. The prime minister’s resignation is credit positive for the sovereign because it offers the possibility of a new more cohesive government, which would improve prospects for implementing Greece’s third bailout package and reducing liquidity and funding risks,” Moody’s reported, while citing the prospect for formation… “perhaps involving a more moderate Syriza party governing alone or in a coalition withother pro-European parties.”
In other political developments, Communist Party (KKE) General Secretary Dimitris Koutsoumbas dismissed the ongoing process of exploratory mandates to form a new government from the current Parliament.
Populist and up-until-recently anti-bailout Independent Greeks (AN.EL) party leader and DM Panos Kammenos called the same process a “waste of time”. He urged the head of the newly founded Popular Unity party to give back the mandate in order to allow yet another election to take place.
