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.
Since then, far-left dissenters have grown more defiant.
Panagiotis Lafazanis, recently fired as energy minister in a reshuffle, called on the government and country to prepare for a national currency.
“An exit from the euro ... in spite of all the dark propaganda, would in no way be a disaster,” he told cheering supporters packed into an Athens theater this week, celebrating five years since the launch of his political website “Iskra” - a name inspired by the Bolshevik underground newspaper once run by Vladimir Lenin.
The Greek drama is far from over. A split in SYRIZA could pave the wave for a Euro exit and return to the Drachma. To date, the markets have heavily discounted this option.
Over the weekend as more developments occur, we could see a trigger for a rush to safe haven assets such as gold and US bonds.