The dollar might be low, but if you make your way to Venice you can count on a discount from Harry's Bar, the renowned Venetian watering hole said to be the birthplace of the Bellini and Carpaccio, and where Ernest Hemingway himself downed martinis. Offering a discount to "poor" Americans who are suffering from the weak dollar is representative of a growing concern across Europe that a decrease in US tourists will have an effect on the tourism industry.

At the entrance of Harry's Bar you now find a sign that says, "Harry's Bar of Venice, in an effort to make the American victims of subprime loans happier, has decided to give them a special 20 percent discount on all items of the menu during the short term of their recovery."

How bad is the current state of the US dollar? When the euro was first introduced in 2002, one US dollar was worth 1.10 euro. Today the same dollar gets about .64 euro, which makes the price of even a simple meal of nutella and a baguette expensive.

"Since the start of January, we noticed a drop in (American) customers of between five and 10 percent and now that we are in April its looks really frightening," said Arrigo Cipriani, owner of Harry's Bar. Then again, what better solution to economic frustration than a refreshing Bellini?

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