It is the highest award, created in 1955 to recognize outstanding efforts in promoting European unity. Fifty-eight towns have been honoured; only one or two prizes are awarded each year to Plaque and Flag winners. The Trophy (held for a year), the bronze medal and the commemorative parchment are presented together with 7.600 Euros of scholarship to fund European study visits for young people. The President of the Council of Europe’s Parliamentary Assembly presents the Prize at a municipally-organised “Europe Day” attended by the Europe Prize Sub-Committee.