Saturday, December 5, 2009
Nobel Prizes Hit By The Financial Crisis?
STOCKHOLM (Reuters) - The Nobel Foundation might have to reduce the money it awards winners of its prestigious prizes due to the effects of the global financial crisis, its director said on Saturday.
The foundation will give 10 million Swedish crowns ($1.5 million) for each prize this year as it has done for most of the last decade. But the downturn could strain resources for future prizes.
"It might be in the future we would be forced to lower the prize," Michael Sohlman, Executive Director for the Nobel Foundation, told a press briefing. "We have sailed the storm, but have taken on some water."
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