Eurozone crisis live: Wolfson Economics Prize shortlist revealed Lord Simon Wolfson, whose family charity is sponsoring a £250,000 prize for the best contingency plan for a break-up of the eurozone. 9.35am: Among the "Papers of Interest" received by the Wolfson Prize organisers is a proposition from Jurre Hermans, an 11-year-old schoolboy in the Netherlands who has two pets, a dog and a bird. He suggests Greece should leave the euro. Under the Hermans plan, Greek citizens would exchange their euros for drachmas and anyone caught moving euros abroad would be penalised financially. Despite a commendable preoccupation with the eurozone crisis and his love of animals, according to the Wolfson Prize official press release, Hermans also has "five friends with whom he plays all day, mostsly outside." Rumours that Mario Dragi and Angela Merkel are among them are yet to be substantiated 9.25am: Shortlist for the prize is emerging: Capital Economics's "Practical guide" Catherine Dobbs' "Unscrambling the euro" Nomura's "Orderly breakup plan" Neil Record's "Guide to dissolving the whole eurozone" Jonathan Tepper's "Primer on default, exit and devaluation" 9.19am: Graeme relays Lord Wolfson's opening soundbite ahead of the prize shortlist announcement. The eurocrisis, says the Next boss, is like a runaway train: the longer you wait, the more painful it is when you have to jump off. 9.17am: The Wolfson Prize event is under way and Graeme is tweeting for us. 8.24am: At £250,000, the Wolfson Prize is the second most lucrative award in Economics after the Nobel Prize. That should ensure a decent stack of entries to choose from. The five shortlisted candidates who are announced today will each receive £10,000, and will be given until the 29th of May to tweak their entries. Last autumn, writing in the Financial Times, 'Undercover Economist' Tim Harford questioned whether the prize could actually be won: Lord Wolfson is offering a prize for turning an omelette back into its constituent parts. I'm off to the Wolfson Prize press conference now. Handing over to my colleague Simon Bowers 8.05am: The shortlist candidates will be announced a press conference in London, starting at 9am BST. Neil O'Brien, director of Policy Exchange, has already tweeted that many "great entries" were received. Only a handful, though, have been shortlisted: 7.57am: The Wolfson Prize is sponsored by the Charles Wolfson Charitable Trust, a family charity controlled by the Wolfson family, and is being run by Policy Exchange, a think tank. Last October, it posed this question: If member states leave the Economic and Monetary Union, what is the best way for the economic process to be managed to provide the soundest foundation for the future growth and prosperity of the current membership? Although the eurozone crisis has now entered a calmer period, some economists believe that the monetary union may yet break-up, so the prize remains relevant. I think it's important that the question refers to "the current membership." This isn't just about saving the euro; perhaps the most crucial question is how a country would cope if it quit the single currency.... 7.50am: Good morning, and welcome to our rolling coverage of the eurozone crisis. Coming up....the final shortlist for the Wolfson Economics Prize will be announced this morning. The prize, worth £250,000, will be awarded to the economist who creates "the best contingency plan for a break-up of the eurozone." The five shortlisted candidates, and their entries, will be released this morning. We'll be at the event, and will be analysing the shortlist -- with your help -- today.