Don't forget about FATCA, the penalties are incredibly stiff (failure to report yields penalties that are a significant fraction of the amount of money on deposit). Being a US citizen has great benefits, but it comes with large obligations.
Oh yeah, and good luck getting a foreign bank account if you don't already have one. Heck, if you have an American bank account, I've heard European banks don't want to deal with you even if you're a solely European citizen living in Europe.
