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UK BUSINESSMAN OFFERS £250,000 PRIZE FOR EURO ZONE EXIT PLAN
PanARMENIAN.Net
October 19, 2011 - 14:02 AMT
PanARMENIAN.Net - A leading British businessman is offering a 250,000
pound reward for economists who can come up with the best plan for
countries to quit the European single currency zone, Reuters reported.
The one-off prize is sponsored by Simon Wolfson, chief executive of
British high street clothing chain Next, and a prominent supporter
of Britain's ruling Conservative party who sits in the upper house
of parliament.
"The future of the world economy will, in large part, be governed by
what happens over the next few years in Europe," said Wolfson.
"I, along with most European businessmen, hope that the euro zone
will stabilize, but in the event it does not Europe must not sleepwalk
into a policy vacuum," added Wolfson.
"This prize aims to incentivize the world's brightest economic minds
to help fill that policy void: their endeavors may well prevent Europe
from descending into a financial chaos that would destroy savings,
jobs, and social cohesion."
Economists have until January 31 to submit proposals for the one-off
prize, the biggest available to academic economists after the
Nobel Prize. Entrants will be judged by a panel of leading academic
economists. The award process is being managed by Policy Exchange,
an influential centre-right think tank.
Britain is a member of the European Union, although not part of the
17-nation euro zone. Its economic prospects are closely tied to the
fate of the single currency.
From: A. Papazian
PanARMENIAN.Net
October 19, 2011 - 14:02 AMT
PanARMENIAN.Net - A leading British businessman is offering a 250,000
pound reward for economists who can come up with the best plan for
countries to quit the European single currency zone, Reuters reported.
The one-off prize is sponsored by Simon Wolfson, chief executive of
British high street clothing chain Next, and a prominent supporter
of Britain's ruling Conservative party who sits in the upper house
of parliament.
"The future of the world economy will, in large part, be governed by
what happens over the next few years in Europe," said Wolfson.
"I, along with most European businessmen, hope that the euro zone
will stabilize, but in the event it does not Europe must not sleepwalk
into a policy vacuum," added Wolfson.
"This prize aims to incentivize the world's brightest economic minds
to help fill that policy void: their endeavors may well prevent Europe
from descending into a financial chaos that would destroy savings,
jobs, and social cohesion."
Economists have until January 31 to submit proposals for the one-off
prize, the biggest available to academic economists after the
Nobel Prize. Entrants will be judged by a panel of leading academic
economists. The award process is being managed by Policy Exchange,
an influential centre-right think tank.
Britain is a member of the European Union, although not part of the
17-nation euro zone. Its economic prospects are closely tied to the
fate of the single currency.
From: A. Papazian