One of the worst teams in Premier League history (Villa) spent €70m last Summer on players. Name a mid table European team that could pay the €80k per week salary that West Ham and Stoke pay a few players? The truth is that money is king unless you have an abysmal scouting policy, so why wouldn't 10 teams with €50m+ to spend every Summer pillage they're comparative European teams?
I suppose opinions are like arseholes, we all have one and believe others' stink far worse but think back a few years ago to Swansea who bought a few of the best players from smaller La Liga teams, the likes of Michu, Pablo and Rangel... The truth is the biggest flaw with the Premier League is that we focus too much on "Premier League proven" and are too poor at scouting abroad. However when you have 10 times the budget of your comparative Europeam club, 16 clubs can't possibly be that incompetent, can they?
On the continent there isn't one midtable team who needs that much, on the continent you build a european side with that money. While in England you purchase midtable players.