ATHENS, Greece (AP) – A new anti-austerity party formed by rebel lawmakers who quit the governing left-wing Syriza was given its chance Monday to seek government coalition partners and prevent Greece from holding its third national vote this year.
Former energy minister Panagiotis Lafazanis, who heads the newly formed Popular Unity, received the maximum three-day mandate from the country’s president after the head of the main opposition conservative New Democracy failed to form a government.
Neither of the two parties was expected to find willing coalition partners, and early elections are practically guaranteed in September following the resignation of Prime Minister Alexis’ Tsipras last week, seven months into his four-year term. The most likely date is seen as Sept. 20.
The renewed political uncertainty has hammered the Athens Stock Exchange, which crashed down more than 9 percent in afternoon trading Monday, dragged down by Europe-wide jitters after China’s market tumbled. That followed two straight days of losses last week on election concerns.
Tsipras resigned on Thursday following a rebellion in his party over Greece’s new bailout, which saw dozens of Syriza lawmakers dissent and vote against him when the deal came to a vote in Parliament.