Greece Prime Minister Alexis Tsipras, who has been the subject of criticism both inside of his country and around the world particularly in the EU, will have to deal with a new crisis in the coming months as his left wing Syriza party is currently in the process of rebelling against a third financial bailout agreed upon in mid-July. Only time will tell how the current crisis plays out.

“There is no democracy in the country. In fact, if we want to define our political system it is a Euro dictatorship,” Panagiotis Lafazanis recently said regarding the new bailout. Mr. Lafazanis is the head of the Platform Group in Greece whose members are the ones who are primarily responsible for the rebellion in Mr. Tsipras’ Syriza Party.

The economic crisis in Greece has been plaguing the country since 2009 when it was first discovered that their debt to GDP ratio was 113%, or when translated into Euro amount, totals out to 300 billion. This revelation would be the first of the many dominoes that would be the first to fall causing an almost depression like economic crisis that is still continuing to this day.

“Don’t listen to those saying this would be a catastrophe” Mr. Lafazanis said, referring to the possible exit of Greece from the Euro, also known as a Grexit. The possibility of an exit from the Euro by Greece has scarred many throughout the EU as it has been feared that if Greece were to exit the EU that would cause a domino effect and lead to the countries of Portugal, Spain and Italy also leaving. Those countries have also been experiencing similar economic difficulties with high unemployment and also ballooning budget deficits.

Greece’s current unemployment rate stands at 25.6% which is down from 25.8%. The high rate of unemployment in Greece is seen as a systemic problem throughout the EU as many countries have similar problems, with the high unemployment rate, with Spain at 22.5%, Portugal at 12.7% and Italy 12.4%.

The far left of the Syriza party has been complaining about the economic reforms that have been placed upon the country by the EU and financial bodies like the IMF. They see it as unfair to the middle class people of Greece who have borne the brunt of the austerity measures which have been in place since the first 2 bailouts were enacted (May of 2010 and March 2012).

Because of the split within the party, an emergency meeting will take place in September to determine whether or not to accept the terms handed out by the IMF.

“Work has started, meaning the institutions are talking to the Greek authorities” European Commission Spokeswoman Mina Andreeva regarding the prospects of a possible 3rd economic bailout.

If the Syriza Party cannot come to an agreement in the emergency session possible elections would be called for in the fall. Some of the issues that have been targeted by creditors include the reform of the taxation system and early retirement.

“The left movement should fight on all these fronts. We should not quit the battle. This is the message we are getting from society and we have to listen to it” Greek Prime Minister Alex Tsipras said regarding the bailout and the view of the everyday Greek citizen who also recently rejected the proposal through popular vote.

Ultimately, it is critical for the Greek Parliament to accept these reforms as the country attempts to regain its financial independence and to help maintain stability within the EU and to prevent further panic throughout the institution.