Greek Prime Minister Alexis Tsipras just announced he will step down. He has lost his parliamentary majority and Syriza is split, with left leader Lafazanis announcing the formation of a new party, Popular Unity. Speaking in a televised address last night, Tsipras stated that the Syriza government would tender its resignation and call an election. Tsipras said Greeks still have struggles ahead of them, but that Greece is “determined to honour” the latest so-called bailout package. What does this mean?

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