[fr0sty]

Of course you will need Euros for day to day expenses. The idea would be to move your savings onto USD or GBP before the exchange rates spike and convert them back into $local_currency after things in europe settle down.

     ...can you short a currency somehow?

If you have the right brokerage account you can trade currency futures and options but be careful. Such trading is generally very leveraged and the possibility of losing all of your principle is very real(1) so be sure you understand the risks.

(1) this does not apply to buying options.