I posted this to a thread, but realize it did not belong there.
I talked to a friend of mine this morning about a trip to Italy, Greece and Spain.
We talked about the general "troubles."
But then came the very telling anecdote:
Shopkeepers have signs at registers saying that they are accepting USD (cash) at parity with Euro.
This reminded me of stories from Argentina.
It looks as if the shopkeepers have decided how this is likely to end.
They are hoarding dollars to hedge the likely exit from the Euro.
Club Med is on sale for 35% off, if you have printed, hard cash.