05:44 PM GMT
London (CNN) – It’s not everyday that I wake up to the smell of £250,000.
So, when I saw what was on offer this morning – create an orderly plan for countries to exit the euro and win just shy of US$400,000 – I started to think of my options.
But what would be my plan? Is an exit from the euro even viable?
Some background: Lord Wolfson, CEO of retailer Next, announced the Wolfson Economics Prize, the second largest economics cash prize next to the Nobel, to be awarded to the person who comes up with the least painful way for European nations to disentangle themselves from the European Monetary Union, which unites 17 nations under a single currency.
For the past few months, we’ve been told by economists, finance ministers and politicians that such a move would be disastrous. Legally, we know that no one country can leave. The treaties governing the eurozone have no provisions for a member leaving of its own volition or being expelled by others, so this would need to be revised.
