The new intergovernmentalism and the Greek crisis
Just as some thought it was over, the Greek crisis has entered into a new and dramatic stage. The Prime Minister, Alexis Tsipras, has declared snap elections to be held on the 20th September. This comes just as the European Stability Mechanism had transferred 13 billion Euros to Athens, out of which 3.2 billion was immediately sent to the European Central Bank to repay a bond of that amount due on the 20th August.