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“Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough,” those were the words outed by the President of the European Central bank Mario Draghi some five years ago at a speech in London. Well, Deutsche Bank recently calculated how much those costs turned out to be, and we can conclude that Draghi absolutely meant what he said. He spent €1,2 trillion (€1.200.000.000.000).

In March of 2015, Draghi started buying assets like (government) bonds on a large scale with the ‘quantitative easing programme’, aimed to stimulate growth and inflation within the Eurozone. Basically, the ECB created new money which ultimately went to the financial institutions (banks) to lower interest rates, making it cheaper for people to borrow money (see video). The ECB started with buying €80 billion worth of bonds on a monthly basis (!) and lowered it to €60 billion per month from April on this year. And although the programme ends by the end of this year, it is expected to be continued in 2018.

So, now Deutsche calculated the sum, and they came up with that ‘gigantuous’ amount of €1,2 trillion, and there are a couple of coincidences with this number. For instance, the GNP (gross national product) within the Eurozone also increased with €1,2 trillion. Also, as Bloomberg reported, the Federal Reserve’s balance sheet has climbed the equivalent of roughly €1.2 trillion. Finally, the combined market cap of the FANG stocks — Facebook, Amazon, Netflix and Alphabet — has jumped about the equivalent of €1.2 trillion. It’s merely a freakish coincidence, but it does seem €1,2 trillion is the number of 2017.