The 'Creditanstalt' Vienna is Pleased to Announce the Election Results for the Heinrich Brüning and Andrew Mellon Memorial Prizes.
Results for the Heinrich Brüning Memorial Prize for Self-Defeating Macroeconomic Stabilization Policy (aka Austerity):
The winner of the Brüning Memorial Prize, by a hair over David Cameron, is
Olli Rehn,
Vice-President of the European Commission
 |
| Olli Rehn on receiving word of being awarded the Brüning Memorial Prize |
Vice-President Rehn will receive the sum of One Million 'Euros' in Deutsche Bundesbank TARGET2 Claims on the ECB, contingent on his relocating to Germany.
Results for the Andrew Mellon “Liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate” Memorial Prize for the Expeditious Resolution of Banks (aka Bank Runs):
| Polldaddy.com poll | Googgle poll | Total | ||||||
| Count | Percentage | Count | Percentage | Count | Percentage | |||
| Wolfgang Schäuble, German Finance Minister | 23 | 37.10% | 4 | 13% | 27 | 29% | ||
| Jeroen Dijsselbloem, Dutch Finance Minister and Euro Group President | 14 | 22.58% | 13 | 41% | 27 | 29% | ||
| Jens Weidmann, Bundesbank President | 12 | 19.35% | 5 | 16% | 17 | 18% | ||
| David Stockman, former OMB director under Reagan | 5 | 8.06% | 7 | 22% | 12 | 13% | ||
| Angela Merkel, German Chancellor | 7 | 11.29% | 2 | 6% | 9 | 10% | ||
| Nicolas Sarkozy, former French President | 0 | 0% | 1 | 3% | 1 | 1% | ||
| Other: | 1 | 1.61% | 0 | 0% | 1 | 1% | ||
| Total | 62 | 100% | 32 | 100% | 94 | 100% |
The joint recipients of the Andrew Mellon Memorial Prize, in a photo-finish tie, are
Wolfgang Schäuble, German Finance Minister
and
Jeroen Dijsselbloem, Dutch Finance Minister and Euro Group President
Will the happy award winners adopt a bail-in template on the lines of the Cyprus rescue to divide their spoils?
The two distinguished winners will have to share the prize sum of One Million 'Cypriot Euros' (subject to capital controls and bail-ins of the ECB) according to a formula of their own choosing. If they cannot agree on a formula, the prize money will revert to the Central Bank of Cyprus for the support of orphans and widows.
The award ceremony will take place on May 11, 2013 in Vienna to commemorate the world-historical May 11, 1931 bank resolution of the Creditanstalt, a defining event in the evolution of European integration and cooperation, and a model for contemporary economic policy.
Particulars about the ceremony will be announced shortly by the Prize Committee on this website.
Technical Note: The polls were conducted using the Blogger.com polling gadgets April 7-9, and April 9-May 5 using the Polldaddy.com polling gadgets. The results of each poll were merged.
