Submission? A proposal for an orderly EuroZone exit; The prize ￡390,000 dollars. And today turns out we have a winner.The Wolfson Economics Prize has been awarded to Roger Bootle and his team fromCapital Economics, that's a UK research consultancy, for their submission.

Now after the Nobel Prize for Economics,what all we might hear is the second biggest cash prize awarded for this field.Roger Bootle's proposal is called "Leaving the Euro: A Practical Guide."He told us how it might work and why he thinks that a real Euro Zone exit ismore likely now than it's ever been.

Well, I think the crisis has been buildingup gradually but continually, every so often you get an attempt to fix it orsomething, that's for traders, of fixing of it. And then it proves to beinadequate, which is just another one of those faces. I think the backgroundcrisis is actually intensifying, probably a breakup I would have mentioned: Isit anything more likely now than it was a few months ago?

Our plan envisages a country preparing insecret, a small group of officials. And then, enacting that plan very quickly,essentially overnight, announcing to the populous that domestic monetaryamounts have beenredenominated into a new currency,let's call it the drachma, at one for one. So a given amount in Euros becomesthe same amount in drachmas. Meanwhile, on the exchanges, on the foreignexchanges, the drachma depreciates sharply. Perhaps it would be one up to 1.7,2 to 1, we don't know. That's not a problem. That is the essence of thesolution.

The country then redenominates all itsdebts, its domestic debt, into this currency. It establishes a newpolicyregime, bans wageindexation, establishes tightcontrols on fiscal policy. And then lies back and hopes, I think correctly,that before very long, that much lower exchange rate will bring renewedeconomic growth.