The decline of the euro has a big impact on quality of life. Purchasing power is actually one of the ways people have been enjoying a reasonable quality of life in the majority of the EU, enjoying good social and health services, education, etc. With the euro going down, the tables are turning, with nearly all other major currencies having the upper hand against the euro.
Because of the Greece situation, and probably other economic factors in the EU, the currency is being devalued, all kinds of labor cutbacks are going on. Also cutbacks in education and other services have already been undertaken. High quality education and social services is probably one of the reasons someone would decide to live in Western Europe in the first place. The current EU economic situation has trickle-down effects to everything in our lives.
*Edit: 19/06/2010
The euro is heading up. But its hardly recovered more than half of what was lost in May.
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