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Euro crisis: Should I cancel my vacation?

In the last decade of the 20th century, the Turkish lira fell in value 1,000 times against the U.S. dollar, meaning that tourists returning to that country after several years found that any old money they still possessed since their last visit had become almost worthless.

Now as fears grow about whether Greece will stay in the euro, and the possible domino effect this could cause, many prospective holidaymakers appear to be having second thoughts about visiting that country and other economically troubled members of the 17-nation eurozone, such as Spain or Portugal.

And while tourists may be bulking up their cash reserves in the case of a euro exit, others may be concerned about safety if violent street protests resume against austerity cuts.

The euro is at a three-year low against the British pound and is as weak against the U.S. dollar as it has been since 2010. This should mean the cost of hotels and restaurants is lower than it has been for a few years.

Travel experts say that whatever happens with Greece and the euro this summer, tourists visiting economically troubled European countries, such as Greece, Italy, Spain and Portugal -- all major tourist destinations -- are unlikely to lose out.

If Greek does leave the euro this could lead to contagion, and other countries joining them, but few analysts believe the whole euro project is likely to collapse in the next year or so. In other words, it's safe to buy euros, but keep an eye on the exchange rate, which is continuing to strengthen in favor of world currencies.