The Buckingham

Photo Credit: www.uk.finance.yahoo.com

An 11-year-old-boy has been commended for his plan to save the Euro.

Jurre Hermans from the Netherlands sent in his own plan to the Wolfson Economics competition which asked people to come up with their best plan for dealing with a eurozone break-up.

While Hermans didn’t win, he did receive a special mention and was given a 100-euro gift voucher.

Hermans plan was for Greeks to be incentivised to return their euros for their old currency, the drachma, as debt repayment.  He also said that if they didn’t return their euros, they would have to be fined at least the amount of money they held back.

The list of finalists was shortlisted to five, which are that of Roger Bootle and Capital Economics, Cathy Dobbs, a private investor, Jens Nordvig and Nicko Firoozye of Nomura Securities, Neil Record of Record Currency Management, and Jonathan Tepper of Variant Perception.  The Wolfson prize is only second in value to the Nobel Prize and is worth around $170,000.