NOBEL ECONOMICS PRIZE

This week instead of visiting a new country, we’ve been asked to choose somebody who we think would most deserve to be awarded with the Nobel Economics Prize. Each group has been assigned a different category and out of all the candidates we’ll have to vote for the most worthy winner.

The winner of the Nobel Economics Prize is............................

EMILIO BOTIN

We’ve chosen Botin because the bank he owns, Santander, has had a global impact especially during these tough economic times. While many banks were going bust, Santander’s profits doubled during the first quarter of 2009 which subsequently led to the creation of 400 jobs in the UK alone.

Santander’s financial strength enabled it to rescue alliance & Leicester (a British bank) with a £1 billion capital injection early in the global credit crisis in 2008. It also saved Bradford & Bingley’s crumbling deposits operation.

The global group reported a 6 per cent increase in profits for the first quarter of 2010 and put emphasis on its international diversification. Just under a third of profits are generated in Spain, 23 per cent from the rest of Europe, 35 per cent from Latin America, 16 per cent from Britain and 2 per cent from America.

In conclusion, we think that Botin is a suitable candidate for this prize because he sets an example for other entrepreneurs that even under difficult circumstances any bank or business for that matter can be successful.

                By Jasmine, Marta, Ascen, Ana and Belen