It's about time people in Europe realize extinction is forever. Of course their glorification of feminism will work to keep most middle class women believing it is just not normal to have 4 or 5 kids -- the number they should be having to correct the babyboomer's forgetting to have children.
The Germans have been offering similiar incentives in the form of "kindergeld." You are right, it isn't working. The money isn't enough for people to change their lifestyle. The basic culture has to change. In the meantime, the population is declining and the remaining working population is having a harder and harder time supporting an aging population with an overly generous social welfare system.