EUO- Double Short Euro

I am a fan of the EUO.  Western Europe has extended around 1.7 trillion in loans denominated in Euro and the Swiss Frank to Eastern Europe.   Most of the eastern europen  currencies have collapsed so those companies and individuals who hold those loans are now looking at twice the obligation to repay.  Austria has over 2/3's of its GDP outstading on such loans.

Any thoughts with respect to entry points?