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Sachem Business Students Head to Federal Reserve

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American high school students will gather to compete in the annual Euro Challenge contest at the Federal Reserve Bank of New York on May 2.

Following regional contests, a total of 25 teams from across the country, including our very own from Sachem North, will travel to New York City for the semifinal and final rounds. Students compete by showcasing their financial literacy and knowledge of the European Union and its single currency, the euro.

Participating teams prepare a detailed presentation of current economic conditions in one of the 19 countries that share the euro, and proceed to make policy recommendations to improve that country’s competitiveness, human capital and sustainable growth.

This year’s contest takes on special importance as the euro celebrates its 20th anniversary. Since its launch in 1999, the euro has brought stable prices, lower transaction costs, more transparent and competitive markets, and increased trade.

“The Euro Challenge is a unique learning opportunity for young Americans that teaches students about financial literacy and policy making from an EU perspective,” said Moreno Bertoldi, special advisor to the ambassador and head of the Economic and Financial Affairs Section at the Delegation of the European Union to the United States. “It also highlights that the EU is the largest economic partner of the United States. Since we launched the Euro Challenge in 2006, I am proud to say that hundreds of American students have participated in this exciting competition.”

The top five winning teams will receive monetary awards generously provided by the Moody’s Foundation. The top two placing teams will receive a free trip to Washington, D.C., also sponsored by the Moody’s Foundation, to present solutions to the embassy of the country they researched.