Greek prime minister Alexis Tsipras is pictured here leaving a Eurozone summit at the EU's headquarters in Brussels on July 7, 2015. John Thys/AFP Photo
Greek prime minister Alexis Tsipras is pictured here leaving a Eurozone summit at the EU's headquarters in Brussels on July 7, 2015. John Thys/AFP Photo

Greece’s Tsipras announces resignation and calls for snap elections



ATHENS // Greek prime minister Alexis Tsipras announced his government’s resignation and called early elections on Thursday, an attempt to get a new mandate to implement a three-year bailout programme that sparked a rebellion within his radical left party.

In a televised address to the nation on Thursday night, Mr Tsipras defended his government’s negotiating tactics and said that Greece got the best deal possible for its 86 billion euro (Dh353.7bn) bailout from other eurozone countries.

But the bailout is conditional on Greece imposing stringent spending cuts and tax hikes – the very measures that Mr Tsipras won elections in January vowing to repeal.

Now that the country has secured its funding, Mr Tsipras said that he felt obliged to let the Greek people evaluate his work.

“Now that this difficult cycle has ended ... I feel the deep moral and political obligation to set before your judgment everything I have done, both right and wrong, the achievements and the omissions,” he said. “The popular mandate I received on January 25 has exhausted its limits.”

Tsipras headed to the country’s president, Prokopis Pavlopoulos, and formally submitted his resignation to begin the election process.

He did not mention a date for the election, although it will have to be held within the next month. Government officials said September 20 would be the likeliest date.

* Associated Press

While you're here ...

Damien McElroy: What happens to Brexit?

Con Coughlin: Could the virus break the EU?

Andrea Matteo Fontana: Europe to emerge stronger

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

South Africa World Cup squad

South Africa: Faf du Plessis (c), Hashim Amla, Quinton de Kock (w), JP Duminy, Imran Tahir, Aiden Markram, David Miller, Lungi Ngidi, Anrich Nortje, Andile Phehlukwayo, Dwaine Pretorius, Kagiso Rabada, Tabraiz Shamsi, Dale Steyn, Rassie van der Dussen.

The specs

Price, base / as tested Dh12 million

Engine 8.0-litre quad-turbo, W16

Gearbox seven-speed dual clutch auto

Power 1479 @ 6,700rpm

Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds

Top speed 420 kph (governed)

Fuel economy, combined 35.2L / 100km (est)

Results

2pm: Maiden (TB) Dh60,000 (Dirt) 1,200m, Winner: Mouheeb, Tom Marquand (jockey), Nicholas Bachalard (trainer)

2.30pm: Handicap (TB) Dh68,000 (D) 1,200m, Winner: Honourable Justice, Royston Ffrench, Salem bin Ghadayer

3pm: Handicap (TB) Dh84,000 (D) 1,200m, Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi

3.30pm: Conditions (TB) Dh100,000 (D) 1,200m, Winner: Dark Silver, Fernando Jara, Ahmad bin Harmash

4pm: Maiden (TB) Dh60,000 (D) 1,600m, Winner: Dark Of Night. Antonio Fresu, Al Muhairi.

4.30pm: Handicap (TB) Dh68,000 (D) 1,600m, Winner: Habah, Pat Dobbs, Doug Watson

UAE athletes heading to Paris 2024

Equestrian

Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).

Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

Cycling
Safia Al Sayegh (women's road race).

Swimming

Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics

Maryam Mohammed Al Farsi (women's 100 metres).

Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press

Company profile

Company name: Twig Solutions (with trade name Twig)
Started: 2021
Founders: Chafic Idriss, Karam El Dik and Rayan Antonios
Based: UAE
Sector: FinTech
Initial investment: bootstrapped (undisclosed)
Current number of staff: 13
Investment stage: pre-seed — closing the round as we speak
Investors: senior executives from the GCC financial services industry and global family offices

COMPANY PROFILE

Name: Kinetic 7
Started: 2018
Founder: Rick Parish
Based: Abu Dhabi, UAE
Industry: Clean cooking
Funding: $10 million
Investors: Self-funded

The Specs

Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now

Profile of MoneyFellows

Founder: Ahmed Wadi

Launched: 2016

Employees: 76

Financing stage: Series A ($4 million)

Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund