I have been extremely bearish on EU for some time -- still am. However, I've been reading some Chesterton. It makes me think that, at some point, it may find its soul -- or perhaps have it bought back.
A good friend of mine just came back from Germany over Easter (visiting his son in the USAF). This was his and his wife's first time to Europe and he was amazed at the 'decadence" compared to the US. He said we are "downright puritanical" compared to them. Having spent a fair amount of time there I have to agree!