Greece owes about 357 billion dollars of debt to all outstanding creditors. The best solution would be for the EU central bank to buy all of Greece's outstanding debt and convert the current balance to a one percent interest rate. Similar to what Alexander Hamilton proposed back in the day.

The EU central bank would then set a Greek repayment plan so Greek debt to GDP would be reduced to under 10 percent in 30 years. The repayment plan would be a fixed amount.

All further debt issued by Greece would be bought by the EU central bank at 1 percent. However, there are contingencies such as:
* Greece is not allowed to sell debt on the open market;
* restructuring progressive income tax (5/15/25/35);
* Greece is not to expand its social insurance programs for the next 30 years;
* The EU central bank has exclusive rights to be first buyer at 1 percent interest rates; and
* Greece must consistently reduce its debt to GDP ratio every year (Greece should be left to devise how they do this).