SYRIZA MP Kostas Lapavitsas has hinted towards the formation of an anti-austerity political party in an article he authored for his personal blog, entitled “Voting the new loan agreement and the humiliation of democracy”.

In his article he notes that the recent political developments highlight “the imperative national and social need for the ‘no’ at the referendum and in Parliament to find a political voice”. Mr. Lapavitsas added that the new loan agreement is full of uncertainties and can only be described as “colonialist”.

According to the SYRIZA MP the new loan agreement entails a “profound loss of national sovereignty”, as the ESM’s role means that the Greek state will no longer apply state authority and that “the creditors are now the true rulers of public property”. He criticized the procedures followed by his party to ratify the agreement, adding that it was a “humiliation of democracy enforced by the creditors”.

In concluding his article, Mr. Lapavitsas underlines that it is “incomprehensible for a Left-wing government to spearhead his development” and challenged the claim that “the government may manage this new situation in favor of the people”.