10 ways to make real money

Even with its debt worries, Europe still makes up 25% of the global stock market. You can sidestep the debt issues by focusing on Europe's big exporters; their sales benefit from a weaker euro, which makes their products cheaper for foreigners to buy.

How to invest: Start with Siemens, the 163-year-old German conglomerate that makes everything from medical equipment to high-speed trains. The company put a major restructuring into high gear when the economy headed south in 2008. Siemens slashed $2.6 billion in expenses and shifted focus from Europe to emerging markets. But the market has yet to give Siemens full credit for the changes: Today the stock trades at 12 times estimated earnings for the next 12 months, vs. a 10-year median of 22. Other candidates: French oil giant Total, which did 30% of sales outside the Continent last year, and pharmaceutical firm Roche, with 67% of sales abroad.

What could go wrong: A weaker euro makes European goods cheaper, boosting sales. But the currency has rebounded since June. Further strengthening could dampen exporters' earnings.

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