I don't profess to being an expert in economics but it doesn't take a rocket scientist to work out that Europe only appears to be going one-way at the moment...
From easyJet's point of view, here we have an airline that has spread itself right across Europe, significantly flying point to point within the continent. Surely this doom and gloom is going to hit it harder than someone like Monarch who I'm guessing really only deals with UK holidaymakers (take the closure of ezy MAD for example). If Greece collapses then holidays will be cheaper there, same goes for Spain. Demand from UK holiday makers would go up on that basis, no? After all, the southern mediterranean holiday hotspots are going to want to do all they can to maintain tourism in these areas.
The biggest problem will be if and when UK gets dragged down with Europe, hitting us all hard. I presume this is what you mean A4 and I agree with you. easyJet has a reasonably large exposure to countries that are struggling economically. This is probably something they wish to investigate more than offering permanent contracts to cadets. Sadly.