You can redeem Miles & More miles for round trip tickets on Lufthansa from Montreal to Europe for only 30,000 miles. This is a 50% discount off the normal Economy Class award ticket price of 60,000 miles. The Austrian Airlines option out of Toronto is also a full 50% discount on economy class. Granted all these tickets will also have fuel surcharges but this is still a pretty good deal when you look at it as a whole in terms of miles+cash outlay.
Simply book the offers seen here by June 30th
Full details on this offer can be found here