Jurre Hermans, Dutch 11-Year-Old, Given Wolfson Prize Commendation For Plan To Save Eurozone

03/04/2012 16:07

A schoolboy from the Netherlands has received a commendation for his proposal to save the eurozone, gaining the attention of some of Europe's foremost economic minds.

Jurre Hermans put together a plan in which the Greek euro would be exchanged for the country's old currency, the drachma, as part of an entry for the Wolfson Prize.

The 11-year-old, who asked for his father’s help only with the translation for his entry, compared the Greek debt to a pizza, suggesting that euros should be exchanged for debt repayment. The returned cash would form a cash pizza, with slices cut off and given to creditors. Those not returning Euros would be fined.

Although the plan didn’t make the final shortlist for the prize, it did receive a special mention.

The competition, which is named after Lord Wolfson and comes with a £250,000 cash prize, posed the following question:

"If member states leave the Economic and Monetary Union, what is the best way for the economic process to be managed to provide the soundest foundation for the future growth and prosperity of the current membership?"

Hermans said he came up with a plan because he was worried about the current state of the eurozone.

Those shortlisted for the prize are:

  • Cathy Dobbs, private investor
  • Roger Bootle and team, Capital Economics
  • Neil Record, Record Currency Management
  • Jens Nordvig and Nick Firoozye, Nomura Securities
  • Jonathan Tepper, Variant Perception

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