Just dont put high hopes for Alonso, Liverpool will not be reluctant to lose him, unless we try a mega bid.
Real have other priorities at the moment, but i doubt they will manage to get their targeted players, (Ronaldo, Kaka, Diego, Ribery)
Soon or later they will turn to Alonso, he wouldnt mind playing pr being a sub, (as he is now anyways) in Spain, in the strongest team of Europe, with a better salary and high hopes to win domestic and European titles...
The player wont to complete the transfer after the Euro, anyway, it could be too late by then, Real will decide to make a move for him after failing their primary targets by then and Alonso's price will be most likely rise higher by the end of the summer...
VDV or some other player will become available though, we should distract Real's attention here and now by bidding for a player they consider, force them, to make a move, so that they will stop interfering with any transfer target we try to engage...