Euro in trouble?

The Instapundit linked to an article talking about the Euro's current

steep decline down to 1.23E/$. When I started to panic two weeks ago,

and decided to send what spare cash I had back home the euro was at 1.33,

by the time I could wire the money and my stupid bank posted it, it was

down to 1.25. Which seemed dire last week, but now I'm happy to have

gotten 1.25 when it looks like the euro is about to fall off a cliff tomorrow,

I've seen links to articles at the Big Picture that say that the 1trillion euro

rescue is being used to rescue fatcat investers, the government is just

holding the tent flap while everyone with money gets out.

Glenn Reynolds also asked what will happen if the Euro breaks up? Well,

my understanding is that euro notes and coins are issued in each country,

so that my Italian euros have famous italian landmarks, and if the euro

cracks up my italian euros would become liras again, german euros would

become deutchmarks etc. I heard this during the crisis a couple of years

ago, and at the time I thought it might be good to go to Germany and take

out a few thousand german euros from an ATM. But too much trouble.

A better plan would be if the euro is really in trouble and goes below 0.8,

then make the germany trip, change dollars for german euros and then

exchange them for DM after the dust settles.

This sounds bad

Over 50 Turkish commanders held over coup plot

Police in simultaneous operations in eight cities detained 21 generals and admirals, including ex-deputy chief Gen. Ergin Saygun, former Air Force chief Gen. Ibrahim Firtina and Navy Chief Adm. Ozden Ornek. The rest were mostly colonels.

They are also accused of conspiring to plan shooting down a Turkish warplane to trigger armed conflict with Greece in a bid to destabilize the Turkish government. The military strongly denies the allegations.

Erdogan declined to comment Monday on the raids, saying they had been carried out on prosecutors' orders. However on Sunday, Erdogan said his government had not given "a chance to those who tried to fly a course for Turkey outside the law."

I have no idea what the reality is from this article, it's either the Turkish military planning on asserting control again or the Islamist government framing military members, but whatever is happening it sounds bad for Europe and for NATO.