Olympus itself said the new E-M5 successor is coming soon. So there is no wonder the current model is getting huge price drops. It now sells for 448 Euro only in France (via DL) or 479 in [shoplink 49017 ebay]UK (via eBay)[/shoplink].
More EU deals mentioned by 43rumors readers:
E-PL5 with lens for 299 Euro in Holland (via DL).
Panasonic LX100 for 748 in Spain (via DL).