Rome News-Tribune

Drachma revolt adds unease to Greece’s alliance

- By Derek Gatopoulos Associated Press

ATHENS, Greece — Prime Minister Alexis Tsipras’ power-sharing acrobatics look harder to perform by the day.

Opposition parties are propping up his left-wing government long enough to negotiate a new bailout and keep the country in the eurozone, while senior members of his own party, Syriza, have revived a campaign to bring back the drachma.

On Thursday, lead bailout negotiator­s are due in Athens. They will intensify a new round of talks for a massive third rescue package after Athens and lenders from other eurozone countries reached a bitterly fought compromise.

But Tsipras has a more pressing priority. He will be battling to keep control of Syriza at a meeting of the party’s 200-member executive, facing dissenters who argue the Left has abandoned its principles over the past six months under the country’s popular prime minister.

The uncertaint­y has renewed questions over whether Greece can — or should — endure two more years of austerity and bailout policies that have battered its economy and the political parties that implemente­d them.

“Tsipras doesn’t have many options,” said Dimitri A. Sotiropoul­os, an associate professor of political science at the University of Athens, who sees a snap election in November as a strong possibilit­y.

“One is to strengthen his position in his party ... but he is not fond of seeking confrontat­ion,” he said. “The other is to call an early election. The timing is sensitive: It would have to be after the bailout talks are concluded, but before opposition parties can regroup.”

In a vote three weeks ago, Tsipras effectivel­y lost his majority in parliament, when nearly one-fourth of Syriza’s lawmakers refused to back new austerity measures. Pro-European Union opposition parties were left to save the bill.

Twitter Inc. shares plunged to their lowest point in more than a year a day after interim chief executive and co-founder Jack Dorsey bluntly told analysts the social media platform faces serious problems.

Dorsey surprised analysts by criticizin­g the company for a lack of focus, unintuitiv­e service and difficulti­es communicat­ing the value of using Twitter. Dorsey, who was reappointe­d chief executive a month ago after the resignatio­n of Dick Costolo, added that Twitter’s new products had failed to produce any “meaningful impact” on user growth.

It is “unacceptab­le and we’re not happy about it,” Dorsey said.

The comments came right after Twitter reported sound second-quarter earnings. At $502 million, revenue was up 61 percent compared with a year early and well above analyst estimates of $481 million.

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