Veteran PASOK politician, one-time MP and former minister Antonis Kotsakas on Tuesday resigned from the ruling party's National Council.
 He cited disagreement with the "conservative shift of a formerly socialist party" and also the signature of the Memorandum and subsequent contracts signed for the bailout loans to Greece, noting that these were not ratified by Parliament and waived the country's sovereign rights.

In a letter to PASOK President George Papandreou and the Political Council Secretary Mihalis Karhimakis, he stressed that he was resigning from "the former PASOK, clarifying from the start that it is not I who is leaving the movement but PASOK that left PASOK."

"The supposed help to our country on terms of usury and with the exclusive use of the loans to pay off previous debts is sinking us ever deeper into the debt crisis, as is proved by the Memorandum II and all these things are leading not just to restricted national sovereignty but chaining the country for many decades to the chariot of Atlantism," Kotsakas said.