By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Alexis Tsipras, Greek Prime Minister on Thursday resigned from office  hoping to strengthen his hold on power in snap elections after seven (7) months in office in which he fought Greece’s creditors for a better bailout deal but had to cave in, a Reuters report said.

The report says Tsipras submitted his resignation to Prokopis Pavlopoulos president of the country and asked for the earliest possible election date.

Authorities of Greece said the aim was to hold the election on September 20, with Tsipras seeking to crush a rebellion in his leftist Syriza party and seal public support for the bailout program, Greece’s third since 2010, which he negotiated.

The report says faced with a near collapse of the Greek financial system which threatened the country’s future in the euro, Tsipras was forced to accept the creditors’ demands for yet more austerity and economic reform – the very policies he had promised to scrap when he was elected in January.

The Reuters report quoted him as telling the Greek people that his government did not achieve the agreement they expected before the January elections.

“I feel the deep ethical and political responsibility to put to your judgment all I have done, successes and failures,” the report quoted him as saying.

The report affirmed that his decision deepens political uncertainty on the day Greece began receiving funds under its 86 billion-euro ($96 billion) bailout program, five years after a previous government took the first bailout from the euro zone and IMF.