Most of the countries in eurozone have very high debt to GDP ratio. Countries like Italy, Greece, Portugal are under the grip of high debts. Italy bond yields have already reached 7%. European bank has already bailed out Greece with many banks taking 50% write off on the debt to Greece. All these reasons are putting pressure on euro. Since we are living in a globalized world, effect of economic turmoil in any country, repurcussions are felt across the world. Indian IT have companies have exposure to Euorpe and that could affect their revenues as well as future pipeline..