Even assuming that the international bailout helps Greece stave off bankruptcy, and no one's certain that it will, the Euro's decline is being driven by more than mere panic. There really are fundamental economic weaknesses pushing the currency downward, and they go far beyond just Athens. Stabilizing Greece for a couple of months doesn't do anything about, for instance, Europe's demographic imbalance or the way it impacts their welfare states.
Even more pressingly, the bailout itselfor more specifically, the austerity measures that came with itmight slow down national economies, again impacting the Euro. The currency isn't bouncing back any time soon.
That said, we're also not entering another era where the dollar simply outright dominates the Euro. We've got our own massive debt problems in the States, by some measures the worst in the world, and those will continue to drag on the dollar for decades. Problems with the Euro also have a way of rebounding and hurting our economy, so it's not like a crashing Euro instantly has Americans packing their bags for Paris or Rome. But if you've got some money and time lying around, now is a very attractive moment to hop across the pond.
[Photo: Yahoo Finance]