(VOVworld) – Greece’s Prime Minister Alexis Tsipras submitted his resignation letter to President Prokopis Pavlopoulos on Thursday and called for an election as early as possible.

Greek Prime Minister Alexis Tsipras, as he tenders his resignation to President Prokopis Pavlopoulios, August 20, 2015 (Photo: Reuters)

Tsipras said that although his government didn’t reach the agreement with Greece’s creditors that they hoped for, Greece will still receive a third bailout worth 86 billion euros. Tsipras held an emergency cabinet meeting to announce his resignation and plan a snap election.