Dutch Boy Finds the Solution to Euro-Pizza Debt Crisis

Posted by keeptalkinggreece

  A 10 year old boy from the Netherlands won 100 euro for submitting a plan to solve the Greek debt crisis.  UK’s  daily The Telegraph reported that the boy, Jurre Hermans, stole the limelight from some of Europe’s tope economists with a eurozone breakup plan involving pizza slices and pancakes.
Debt crisis: 11-year-old Jurre Hermans wins €100 for ‘pizza and pancake’ Greek euro exit plan

Jurre Hermans was among 452 candidates who submitted entries to win the £250,000 Wolfson Economics Prize, launched last October by Next chief executive Lord Wolfson to find a credible plan for a euro exit.

Although his idea was not among the five shortlisted, Jurre received special mention from the judging panel.

Jurre’s plan suggests that Greek people could exchange their euros for new drachma at the bank, which the Greek government would then redistribute to creditors so they could get “a slice of the pizza”.

“The Bank gives all these euro’s [sic] to the Greek Government 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. You see that all these euro’s in the pizza’s go the companies and banks who have given loans in greece ,” Jurre’s entry stated.
Jurre’s plan also addressed a potential capital flight from Greece: “The Greek people do not want to exchange their Euros for Drachmes [sic] because they know that this Drachme will lose its value dramatically,” he said.
“They try to keep or hide their euro’s. They know that if they wait a while they will get more Drachmes.
“So if a Greek man tries to keep his Euros(or bring his euros to a bank in an other country like Holland orn Germany) and it is discovered, he gets a penalty just as high or double as the whole amount in euros he 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.”
The crafty plan took Jurre just a week to devise and caught his father – who described Jurre as “an average school student” – by surprise.
Despite his entry, economics isn’t a future career choice for the youngster. “I want to be the director of a zoo,” he said.
And Jurre finds the resulting media attention a bit of a chore. He said: “I’d rather be playing in the sun.”
Jurre Hermans’s submission:

Dear Sir and Madam,

 

My name is JurreHermans. I am 10 years old and live in the Netherlands. I am quite worried about theeurocrisis and look at the TV news daily. The eurocrisis is a big problem. I think aboutsolutions. Since I read in the newspaper about your price, I thought that I would like to submit myidea. The idea might fit. So here it is:I made a picture of my solution and I will explain it to you.Greece should leave the Euro. How do you do that?All Greek people should bring their Euro to the bank. They put it in an exchange machine.

  You see, the Greek guy does not look happy!! The Greek man gets back Greek Drachme from the bank, their old currency.The Bank gives all these euro’s to the Greek Government.

All these euros together form a pancake or a pizza. Now the Greek government can start to pay back all their debts, everyone who has a debt gets a slice of the pizza. You see that all theseeuro’s in the pizza’s go the companies and banks who have given loans in greece.

 

Now here comes the clever part of my idea:The Greek people do not want to exchange their Euro’s for Drachmes because they know that thisDrachme will lose its value dramatically. They try to keep or hide their Euro’s. They know that if theywait a while they will get more Drachmes.

So if a Greek man tries to keep his Euros(or bring his euros to a bank in an other country like Hollandorn Germany) and it is discovered, he gets a penalty just as high or double as the whole amountin euros he tried to hide!!!In this way I ensure that all Greeks bring their euros to a greek bank and so the greek government canpay back all the debts.I hope my idea helps you!!!!Ofcourse if a country has paid back all his debts , he can return to the eurozone.

 

A bit more about myself: I am 10, love animals since I have a dog and a bird. I live in a family of 5 inHolland. I have 5 friends with whom I play all day, mostly outside.PS: My father helped me with my English translation as I speak Dutch

greetings from Holland,

Jurre Hermans

 

PS And with Jurre’s entry we can see how the hungry media report about the Greeks and their economic crisis.  I may have pizza for lunch in an effort to solve a slice of the Greek debt crisis….