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June 11, 2012 08:05 pm

Committee Lowers Nobel Prize Award


Snirt writes "The Nobel Committee has chosen to lower this year's Nobel prize winnings by two million kronor ($283,030) due to turbulence in the current economic climate.The prize now stands at 8 million kronor, down from the 10 million of 2011.'The reason behind thisdecision is that the financialmarkets are really unstable and there are reasons to suspect that this turbulence will continue for a while still,' said Lars Heikensten, head of the Nobel Committee, to the TTnews agency. 'Long term, we aim to raise the figure, even though we think that the Nobel Prize's value should lie in the prizeitself and not the prize money,' he said. While Heikensten admits that it was a 'tough decision' to cut the prize money, he told the news agency that it's not the first time the prize sum has been altered, adding that it has been lowered and raised several times over the past few years."

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/5VEMoIJf6_8/committee-lowers-nobel-prize-award

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