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London team wins prize for study of leaving euro

Thursday - 7/5/2012, 5:08am  ET

LONDON (AP) - A top British economic consultancy has won the 250,000 pounds ($390,000) Wolfson Economics Prize for its proposal on how a country can leave the euro.

The award to Roger Bootle and his team from Capital Economics was announced Thursday by the Policy Exchange, a London think tank.

The winning paper argued that the exit of one or more members from the eurozone would have a net positive effect for the current members and for the world at large.

Bootle commented that "people may disagree on whether leaving the euro is a good thing, but the contribution of the Wolfson Prize has been to demonstrate that it can be done."

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