Grexit: SYRIZA MP shocks as he proposes Return to Drachma debate

Posted by in Economy

SYRIZA lawmaker and former Alternate Minister of Culture Nikos Xydakis shocked the political world and the public opinion on Tuesday morning when he implied a possible Greek withdrawal form the eurozone. Xydakis said that speaking about Drachma is a taboo and that there should be no taboos when we speak about people’s fate.

Speaking to private Skai TV Xydakis said among others:

“There should be no taboos when we speak about the people’s fate. We should create scenarios, look back at the historical experience.

I think, there should be a substantial political and national discussion that has not taken place in the last seven years. And, of course, the discussion should start at the Parliament. Over the past years an issue has been demonized, I have said that Greece flourished also with the Drachma.”

Nikos Xydakis added “We had the Drachma also before the euro, in 1910, 1912, 1930, 1960… the country managed something, somehow we managed to live, we lived also in other period of time. I put this debate on the historic context.”

The SYRIZA lawmaker blamed the German Finance Minister Wolfgang Schaeuble for the Drachma issue saying “If the other [side] opens the door [to the issue], what will you say? I don’t talk about it? it is Schaeuble saying this.”

But most of all, Xydakis shocked the political world and sparked an outrage. Immediate was the reaction coming from opposition parties. They demanded that the government clarifies whether it plans to take the country out of the eurozone.

It is not clear whether Xydakis proposal was rhetorical as some SYRIZA-friendly websites implied.

However, the alarm bells rang as his Drachma debate comes a day after another SYRIZA MP revealed that the left-wing/nationalist coalition government of SYRIA-Independent Greeks was discussing the solution of a Referendum as a way out of the deadlock between Greece and lenders. the public should decide whether Athens should accept the  lenders’ demand for additional austerity measure to be legislated now and be implemented after 2018.

A couple of hours later, former journalist Nikos Xydakis in a long post on Facebook wrote that he never supported return to the Drachma, adding, however, that all options should be discussed.

For one more time, lenders have pushed Greece in a dire situation, insisting on the participation of the International Monetary Fund in the Greek program which on its part demands more austerity measures claiming the Greek debt was not sustainable.

Bloomberg revealed on Monday, that Greek Finance Minister Euclid Tsakalotos gave a memo to European lenders in which he writes that Greece has fulfilled only 1/3 of the bailout  prerequisites.

The Greek Finance Ministry has not dismissed the Bloomberg revelations so far.

I suppose, the Drachma leakage  aims to test reactions and help SYRIZA formulate the Referendum question.

PS We suffered for seven years in order to return to drachma which is something we should have done in 2010?