It was just announced that starting this Friday, the price of the Xbox 360 in Europe will be dropping.
Lets cut to the chase with the old and new prices*
Xbox 360 – was: 349.99 / 249.99 now: 269.99 / 199.99
Xbox 360 Elite – was: 449.99 / 299.99 now: 369.99 / 259.99
Xbox 360 Arcade was 269.99 / 199.99 now 199.99 / 159.99
Again, these new prices will be effective in Europe from this Friday, March 14th.
Edit: Added link to press release