Depending on your point of view, the €750bn ($896bn) eurozone bailout package unveiled this month has been either a whopping and praiseworthy example of multi-national coordination, immediacy and action, or a knee-jerk effort to throw money at long-term structural issues with sketchy detail and no constitutional accountability – that’s according to the folks at Schroders, who have come up with a few other debatable things such a large sum could be spent on.
Schroders head of UK and European fixed income, Jamie Stuttard, says in a new Talking Point note to investors: "€750bn is a lot of money. It could buy you 3.19 million homes in Ireland (1.9 times the entire Irish housing stock) or 1.25 billion cases of Tuscan Brunello di Montalcino. You could buy Real Madrid football club 881 times, or if you so wished you could buy tickets for your 2,000 closest friends to the Eurovision song contest for the next 1,875 millennia."