Pearce will continue to work closely with England coach Fabio Capello
England Under-21 coach Stuart Pearce has signed a new two-year contract.
The 47-year-old, who took over in 2007, revealed news of the deal after his side lost Monday's European Under-21 Championship final to Germany 4-0.
"Just before the semi-final I signed a two-year deal. I enjoy where I work, my employees and the players I work with. Why would you walk away?" said Pearce.
"Losing chews me up but it spurs me on to be a better coach and manager. It's as simple as that," he added in Malmo.
"I don't subscribe to boom and bust. If we won I wasn't going to be the best coach in the world.
"From this squad 50% will go on for the next campaign. For those who have finished, they have served the Under-21s fantastically well.
"I've just asked of them the honour of meeting me at the hotel. I have to speak to them as a group and tell them how well they have conducted themselves over a two-year period.
"I will speak with the players that will finish and thank them. Then I will speak to the younger players and tell them what the expectations are."
Pearce, who took over from Peter Taylor, is also a member of England manager Fabio Capello's backroom staff.
Prior to working as England Under-21 coach he was Manchester City's manager for two years before he was sacked in May 2007.
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