Greek Prime Minister Alexis Tsipras stepped down Thursday. He asked President Prokopis Pavlopoulos for the earliest possible interim election date, according to Financial Express.
The snap election for a new prime minister is tentatively scheduled for Sept. 20. "The political mandate of the Jan. 25 elections has exhausted its limits and now the Greek people have to have their say," said Tsipras.
He resigned on the same day that Greece began receiving bailout money. The quick election, however, should help solidify the prime minister. Analysts believe he is attempting to strengthen his bailout position.
The Greek prime minister has "a moral obligation to place this deal in front of the people, to allow them to judge... both what I have achieved, and my mistakes," he said in a speech, according to the Guardian.
Until the elections determine the new prime minister, which will likely be Tsipras again, Vassiliki Thanou-Christofilou will serve in the interim. He is the current president of the Greek supreme court.
Tsipras would need to survive a censure motion to continue with his bailout plans. Stepping down for a snap election could help him gain the support he needs to continue overhauling Greece's economy. The three-year bailout program calls for sweeping reforms, reported the Guardian.
Using the new bailout money, Greece paid off a large debt owed to the European Central Bank Thursday, according to Yahoo! News.
