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News Item, , Kiel: Global Economy Prize awarded to Pascal Lamy, Paul Krugman and Liz Mohn

Pascal Lamy, the director-general of the World Trade Organization, Paul Krugman, 2008 Nobel laureate in economics, and Liz Mohn, business leader and vice-chair of the Bertelsmann Stiftung Executive Board, are being recognized with the 2010 Global Economy Prize, awarded by the Kiel Institute for the World Economy. The prize will be bestowed in June during the Kiel Week festival. Together with its partners -- Schleswig-Holstein’s Chamber of Commerce and the city of Kiel -- the institute uses the prize to honor policymakers, economists and business leaders who have made “an outstanding contribution to establishing a just and protective society based on individual initiative and responsibility.” The prize highlights activities that bring together various social groups to respond creatively to global economic challenges.

The award ceremony will take place on Sunday, June 20, at 10 a.m. in the main reading room of the institute’s Central Library for Economic Sciences, located at Düsternbrooker Weg 120. Schleswig-Holstein Premier Peter Harry Carstensen will speak at the ceremony, with the main remarks given by German Finance Minister Wolfgang Schäuble. The announcement of the prize was made on May 21 by Kiel’s Economics Councilor Ute Berg, Kiel Institute President Dennis J. Snower and Chamber of Commerce Vice-President Uwe Möser.

The Global Economy Prize honors public figures who have distinguished themselves through their ideas and activities geared toward generating global economic solutions, their willingness to engage in dialogue beyond their areas of expertise and their commitment to creating a society that is based on individual initiative and social responsibility. It is given each year to a politician, an economist and a business leader. Past prizewinners include Earth Institute Director Jeffrey Sachs, former Irish President and UN High Commissioner Mary Robinson and Indian entrepreneurs Baba Kalyani and Sunil Bharti Mittal.