The euro zone is in complete disarray. Credit rating agency Fitch slashed Spain's sovereign debt rating three steps, Greek politicians are fist-fighting each other, and euro zone leaders still can’t reach an agreement on basic economic policies. But what made headlines this week was news that the euro fell against the dollar, as the continent digs its economic hole even deeper.
This could spell good news for Americans, however. It’s summer travel season, after all, and the falling euro might mean falling prices for airlines tickets. And once we're there, our greenbacks will go farther, right?
Not exactly, says Barbara Peterson, senior aviation correspondent at Conde Nast Traveler. Airfare costs depend on more than the exchange rate.