By Patrick J. Buchanan
As Greece lurches on the precipice of default on its sovereign debt, a default that could bring down banks across Europe and precipitate a global financial panic, a consensus is building that there is but one way out.
First, a structured default on the Greek debt, giving creditors a major haircut, but compensating them with eurobonds of half the face value of the Greek bonds, guaranteed by the European Central Bank.
By Patrick J. Buchanan
If you would know what Copenhagen is all about, hearken to this nugget in The Washington Post’s report from the Danish capital:
by Patrick J. Buchanan
As Israel entered the third week of its Gaza blitz, Prime Minister Ehud Olmert regaled a crowd in Ashkelon with an astonishing tale.
He had, said Olmert, whistled up George Bush, interrupted him in the middle of a speech and told him to instruct Condi Rice not to vote for a U.N. resolution Condi herself had written. Bush did as told, said Olmert.
The crowd loved it. Here is the background.
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