Somehow I don't think the EU, or anyone else, will have anything to fear (from an economic standpoint anyway) from the Middle East (save Israel). Take away oil, and the combined GDP of all the Arab countries is less than Italy's. The political/economic/religious situation there is such a mess, it will take them decades (if not centuries) to overcome.
The only thing I can see blooming on the horizon of the ME is a large mushroom cloud.
Never underestimate the power of an idea.