CUORGNE, Italy -- An Italian bar is offering a eurozone-inspired cocktail that rises and falls in price depending on the government's borrowing costs.
In a sovereign-debt-inspired twist on the classic market-linked cocktail price concept, the price of the drink varies with the fluctuation in the spread between Italian and German bonds.
"It's a way of decreasing the anxiety about financial spreads and transforming a weakness into an opportunity to help people in need," according to Simone Liore, a 29-year-old web designer who created the drink and pitched it to his local bar in Cuorgne, northwestern Italy.
The cocktail is a rigorously eurozone concoction of German beer, Italian prosecco and French cassis served up in a Martini glass, AFP reported. It "has to be tried to be believed," Liore said.
The fixed price for the cocktail is €2.50 ($3.40), but the price changes depending on the level of the spread between Italian and benchmark German 10-year government bonds after markets close.
If the spread is 500 basis points, then another 0.5 euros are added. If it is only 400 basis points, then only 0.4 euros are added, for example.
All proceeds will go to charity, Liore said.
The spread between Italian and German bonds has soared to record levels in the past few weeks and is the subject of dark humor among many Italians.
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