DislikedGreece is screwed up and their situatin has scared a lot of money away. A lot of that money will not come back into the currency just becase Greece resolves the issue. The consequence is permanatley compounded into price @ some mimimum level. That's why we are not expecting november highs when buying comes back in, albeit temporarily. The EU will simply be worth less because of this. However, because buyers will come back in if the Greece outcome is positive, the market has added in the discount of the problem itself PLUS the expected result,...Ignored
Lots of intelligent people have been suggesting that the dramas playing out in the EU now are in natural course for it on its way to greater integration. Will the EU fall apart? Who knows? But if this is a case of "what doesn't kill you only makes you stronger" and the EU becomes more unified and works out some of the kinks in its monetary policies, then the euro may end up stronger than ever.
"If The Fool persists in his Folly he will become wise." - William Blake