The Falklands is a perennial red top tabloid favourite. But aside from providing patriotic copy, it is a squabble with serious diplomatic consequences. What to do (or not do) in the case of the islands remains tricky. Is there a solution? Theoretically, yes; practically, no. Theoretically, both countries could agree to a Hong Kong-like lease-back formula, whereby Argentina is accorded legal sovereignty over the islands but the British continue to govern them for a long period of time. This was a scheme conceived by the Foreign Office prior to the Falklands Crisis of 1982, though it had precious little political support in Britain. In the wake of the war, it became a dead letter. Another possible solution could be for …