Students from Rutgers Preparatory School (Somerset, NJ) Rise to the Euro Challenge

Five High School Teams Receive Dollars for Euro Knowledge

WASHINGTON, April 27 /PRNewswire-USNewswire/ -- At the final round of this year's Euro Challenge competition held today at the Federal Reserve Bank of New York, five teams emerged as the winners. Students from Rutgers Preparatory School in Somerset, NJ (1st place), Mt. St. Mary Academy in Watchung, NJ (2nd place), North Allegheny Intermediate High School in Pittsburgh, PA (3rd place), Delbarton School in Morristown, NJ (4th place), and International Academy Central in Bloomfield Hills, MI (5th place) beat the top teams from 20 schools on the final day of intense competition as they discussed the Euro against the backdrop of the global financial and economic crisis. Students showcased their knowledge of issues ranging from ballooning government deficits to rising unemployment as they answered questions about the European economy and the euro, Europe's common currency, which is now shared by 16 of the 27 countries of the European Union.

The winning teams receive a total of $18,750 in cash awards and the top two teams also get a trip to Washington, DC. Prizes are generously provided by the Moody's Foundation.

"I congratulate the winning team from Rutgers Preparatory School for their outstanding performance in this year's Euro Challenge competition," said Angelos Pangratis, Acting Head of the European Union Delegation to the United States. "In these challenging economic times, it is encouraging to see young people display such tremendous understanding of these complex issues and enthusiasm to learn about the EU. The students also gained an appreciation for why the relationship between Europe and America is the strongest in the world. All teams performed at a very high level, and this year's Euro Challenge again saw the number of participating high schools further expand nationally."

The Euro Challenge was launched by the Delegation of the European Commission to the United States in 2006 with 10 schools participating from New York, New Jersey, and Connecticut. This year, a total of 76 high school teams from 11 states (Connecticut, Florida, Michigan, New Jersey, New York, North Carolina, Massachusetts, Illinois, Pennsylvania, Wisconsin, and Virginia) participated in the Euro Challenge competition.

Throughout this school year, teachers and students attended seminars provided by the European Commission and its partner organizations. Participants have been diligently researching the EU's economy and each team has selected to focus on one of the euro area countries.

In addition to providing scholarships, the Moody's Foundation will also sponsor a one-day trip to Washington, DC for the top two teams to visit the Delegation of the European Union, the Board of Governors of the Federal Reserve, and the International Monetary Fund.

Other partner organizations include:

* The Moody's Foundation;

* Credit Suisse;

* The Federal Reserve Banks of New York, Chicago, Boston and the Miami Branch of the Federal Reserve Bank of Atlanta;

* European Union Centers of Excellence at Florida International University/University of Miami, the University of North Carolina, University of Michigan, and the University of Pittsburgh;

* The European Union Center at the University of Illinois;

* The European Union Studies Center at the Graduate Center of the City University of New York;

* and Deloitte & Touche.

For further information, please visit: www.euro-challenge.org  

SOURCE Delegation of the European Union to the United States