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.
If you would know what Copenhagen is all about, hearken to this nugget in The Washington Post’s report from the Danish capital:
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