In the year-to-date, the Euro has declined nearly 10% against the USD.  With all of the uncertainty currently plaguing Europe, the currency may decline further.  There are many ways to bet on the Euro’s decline, the most obvious of which is a simple bet on the currency, itself.  However, it is also possible to take advantage of a weaker Euro by investing in European companies that realize a significant portion of their revenues abroad. When the Euro declines, the products that these companies export naturally become cheaper, in terms of other currencies. In addition, many companies will leverage sudden increases in profit by generally improving their products, or increasing spending on marketing, which may result in future profits. Which companies should you consider investing in? Perennial European powerhouses, such as Siemens and Nokia, are always excellent candidates,   However, European food products companies may also be of interest. MSN Money reports:

The short-term opportunity is especially attractive in the food sector. The shift in dollar/euro exchange rates means that European food companies will not only show higher-than-expected earnings but also will have extra profits to put into marketing programs that can increase market share.

Read More: 5 ways to play currency swings