I think Apple does this little game to try to get Europeans to buy their minis in Europe (699 euros versus $699 means lots more $ for Apple) and I think they need to just drop the game.
Actually, the 699€ price includes the VAT (valued added tax) which varies from country to country, which is 19.6% (ouch) here in France. Moreover, since Apple products are essentially imported items (not made in France or the European Union), they may also be subject to import duty which can go as high as 33.3%.
Therefore if one compares the actual pre-tax or post-tax prices, one might not be so quick to pronounce that 699€ would mean lots more $ for Apple...
Whenever I need an Apple product, I just about always wait till I get to the US to buy it in order to save a bundle on the
tax - with the exception of iPhones (which are
unlocked here as required by consumer protection laws) and keyboards in "international English" (as opposed to US English), since such products are not available stateside!