A sure-fire way to cut costs is to see Europe from a U.S. cruise line. Everything is priced in U.S. dollars and you can eat all your meals aboard.
Royal Caribbean, Holland America and Norwegian Cruise Lines are among U.S. lines adding cruises and offering good values on European cruises.
Example: Holland America's 10 night trip to Venice - which includes stops in Dubrovnik, Santorini, Rhodes and Katakolon - is $999. (see more)
Holland America recently did a comparison of a 10-day land tour vs. a cruise vacation and found that a family of four could save up to 45% on accommodations, food, entertainment and tours.