Grexit plan was no bluff, French ex-president tells Kathimerini

Greece came very close to exiting the eurozone in the summer of 2015, former French president Francois Hollande has admitted in an interview with Kathimerini. Grexit was no bluff. It was, he says, a Plan B that had been drafted, at the behest of German Chancellor Angela Merkel following the decision by Prime Minister Alexis Tsipras to hold a referendum on Greece's bailout terms.

Hollande talks about the dramatic behind-the-scenes developments that led to the agreement for Greece's third memorandum and emphasizes the French effort to ensure that the Plan B was never put on the table. "If Greece goes, who will be next? Are you sure you won't be next?" was his key argument to Greece's partners.

He also reserves high praise for the German chancellor for averting Grexit. "Angela Merkel was demanding but also patient. At the last minute, although she could have leaned...