It certainly made sense, Valve's move earlier in the week, in which it stated that games would be priced in local currencies for the U.K. and Europe, meaning pounds and euros. Not bad except for the fact that they tried to use a "€1 = $1" rule. This naturally has European Steam users hot under the collar.
The U.K. isn't shafted as such, but the rest of the E.U. seems to be getting a huge price increase.
For example, right now the conversion rate (according to Google) for euros to U.S. dollars is €1 = $1.40. So, if the game costs €40, that's the same as $56.02. If the game costs €60, that's $84.03.
There's even been a Steam Group created over the issue, called 1€ ≠ 1$ (1euro1us). There are currently 5,109 members in the Steam Group.
Hard to understand how Valve didn't foresee a big ruckus over this. This falls into one of those "common sense" categories of issues. Common sense would say that you don't do something like this. Of course, common sense and business don't always mix.