Usage note: it can be Euro-trash, Eurotrash, euro-trash, or eurotrash. It is not a complimentary term for Europeans; refrain from using it.
6 December 1983, New York Times, pg. D29:
It (East Side Express - ed.) deftly investigates the arts, the real estate, the eurotrash, the gossip, the shopping, the lifestyles, the police blotters, the discos and the downtown decadence that fascinate the rich and powerful.
4 February 1984, New York Times, pg. 35:
Fall of East Side Express
(...) (Pg. 37 - ed.)
Real estate was given serious attention, as were burglary and larceny on the Upper Wast Side. And gossip was offered in many forms, from a column by Taki, formerly of Esquire magazine, dubbed Eurotrash, to a prickly new column by Life's Cyndi Stivers on the news media called "The Spike."
21 May 1984, Wall Street Journal, pg. 1:
Some groups - young charities, for example - have been known to paper their parties with high-class nonpaying guests, dubbed by some in the business "Euro-trash." The idea is that these beautiful people with suntans and fancy titles will attract the society (Pg. 24 - ed.) press, which may help make next year's event more lucrative.
22 July 1984, Washington Post, pg. 129:
The "Euros" Take Manhattan
The City's New Immigrants Are Young, Restless And Very Rich