£250,000 Prize Christmas Cryptic Challenge

It is a fact of life that they stop manufacturing news over Christmas, which is why the papers are filled with even more dross than normal. Double-page jumbo cryptic crosswords help you while away the time between Christmas lunch and the turkey sandwiches. Guido has something equally as cryptic but far more rewarding…

If you can figure out how a Eurozone state can leave the Euro you could win £250,000. Guido isn’t joking, the Wolfson Economics Prize will be awarded to the person “who is able to articulate how best to manage the orderly exit of one or more member states from the European Monetary Union.”

You have a month until the deadline for submissions on January 31, 2012. So instead of snoozing in the armchair after lunch dreaming of escaping to sunny lands dream of rich sunlit post-Euro uplands. According to the Wolfson Prize announcement the detailed issues that exiting the Eurozone raises include:-

  • Whether and how to redenominate sovereign debt, private savings, and domestic mortgages in the departing nations.
  • Whether and how international contracts denominated in euros might be altered, if one party to the contract is based in a member state which leaves EMU.
  • The effects on the stability of the banking system.
  • The link between exit from EMU and sovereign debt restructuring.
  • How to manage the macroeconomic effects of exit, including devaluation, inflation, confidence, and effects on debts.
  • Different timetables and approaches to transition (e.g. “surprise” redenomination versus signalled transitions).
  • How best to manage the legal and institutional implications.
  • A consideration of evidence from relevant historical examples (e.g. the end of various currency pegs and previous monetary unions)

The Wolfson Economics Prize, worth €286,000, is the second biggest cash prize to be awarded after the Nobel Prize. It aims to ensure that high quality economic thought is given to how the Euro might be restructured into more stable currencies. Guido is read widely in  City dealing rooms, crammed with bond market vigilantes and Phd wielding economic analysts. Given the paucity of bonuses this year, best get your thinking caps on…

Full details from the website:
policyexchange.org.uk/WolfsonEconomicsPrize




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

George Osborne paraphrases Boris, telling the FT:

“If the ball came loose at the back of the scrum, I wouldn’t fumble it”

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

Jim The Salesman Spotted With Corbyn Jim The Salesman Spotted With Corbyn
Labour Illiterate On Illiteracy Labour Illiterate On Illiteracy
Momentum Mock Injured Soldiers Momentum Mock Injured Soldiers
I SCHEMED A SCHEME I SCHEMED A SCHEME
Watch Glitter Balls Watch Glitter Balls
Did Boris Really Want Brexit? Did Boris Really Want Brexit?
Ken Interviewed, Doesn’t Mention Hitler Ken Interviewed, Doesn’t Mention Hitler
Chuka’s Single Market flip-flop Chuka’s Single Market flip-flop
LABOUR HQ PURGE FEARS LABOUR HQ PURGE FEARS
Carter Ruck Deleting Brooks Newmark Sext Pics Carter Ruck Deleting Brooks Newmark Sext Pics
Mandelson Aide Funding Owen Smith Mandelson Aide Funding Owen Smith
OILY WANTED CORBYN TO GO ON OILY WANTED CORBYN TO GO ON
Hinkley: Forseeable Financial Fiasco Hinkley: Forseeable Financial Fiasco
Baroness Shami(less) Baroness Shami(less)
Just How Totes Posh Is Stella Creasy? Just How Totes Posh Is Stella Creasy?
Thornberry “Sky Sexism” Meltdown Thornberry “Sky Sexism” Meltdown
WATCH HILLARY DROP WATCH HILLARY DROP
PMQs Sketch PMQs Sketch
Vaz Broke Law Vaz Broke Law
Cancel Hinkley Cancel Hinkley