Wolfson economics prize: 11-year-old Dutch boy makes surprise entry

Jurre Herman won €100 in gift vouchers for his devastatingly simple contingency plan for a breakup of the eurozone

An 11-year-old boy from the Netherlands has joined the chorus of people calling for Greece to leave the euro in a surprise entry for the lucrative Wolfson economics prize.

Jurre Herman won €100 (£83) in gift vouchers for his devastatingly simple contingency plan for a breakup of the eurozone. Herman suggested Greeks should be forced to swap their euros for drachmas, so the Greek government could pay back its debts with the euros it collects. Any sceptics will surely be convinced by his drawing, which demonstrates a Greek guy, who "does not look happy!!", delivering his euros to the bank.

Herman explains: "All these euros together form a pancake or a pizza (see on top in the picture). Now the Greek government can start to pay back all their debts, everyone who has a debt gets a slice of the pizza."

While his fellow shortlisted and commended entrants boast impressive biographies listing their professorial chairs, advisory roles, bestselling tomes and multiple qualifications, Jurre's says that he lives with his family, his pet dog and a bird and has "five friends with whom he plays all day, mostly outside".

But showing an impressive understanding of economics, he notes: "The Greek people do not want to exchange their euros for drachmas because they know that this drachma will lose its value dramatically." To tackle this thorny issue, he plans to fine those Greeks hiding their euros or transferring them to other European countries, by doubling the amount of euros they tried to hide.

"In this way I ensure that all Greeks bring their euros to a Greek bank and so the Greek government can pay back all the debts. I hope my idea helps you!!!!"

http://www.guardian.co.uk/business/2012/apr/03/wolfson-economics-prize-11-year-old-dutch-boy