It is the moment every economics correspondent dreads during a big sporting event such as the Euros, World Cup or Olympics. They are always asked, when a home nation or Team GB is doing well: "how much could this be worth to the economy?" This is usually the cue to come up with several hundred words of largely meaningless analysis of how many extra pints of beer, takeaway meals, flags and replica shirts will be bought and how much this will deliver in extra sales and profits for retailers, restaurants and pubs. It is a pointless exercise that generally involves coming up with a big, impressive-sounding number and ... (full story)