After a vicious sell-off following the Spanish bank failure, the Euro has begun to recover. If this is intervention, then the Central Bank dealers have changed their tactics.. no more 100pip 'shock and awe' moves. However, the risk to the Eurozone remains.
The Swiss National Bank has been intervening in the EUR-CHF markets aggressively.. read post on FT Alphaville.
Real Estate in Spain has been a pain for some time to come. This can be the next damper in the Euro saga.. Watch out for news events linked to Spain.