According to what's being discussed this side of the pond, a complete revision of the banking and financial system is underway. They're looking at moving all poisonous debt into seperate banks, (as per 90's Sweden), so that monetary easing can be focused specifically at bad debt.

Also the PIIG countries, Portugal, Italy, Ireland Greece, are complaining that the euro is preventing them from managing their situation. If there was a collapse of the euro with these countries pulling out..that would support the price of gold just as much as a potential dollar devaluation.