http://www.theatlantic.com/magazine/arch...isis/8915/
Short-answer: the whole continent -- or at least, that part of it whose familes have lived there for 2+ generations -- is about to fall off of a very steep demographic cliff. Hard to generate economic growth when that's happening. Hence, the perennial debt-crisis is probably not going to be "solved" anytime soon (i.e., not in the lifetime of anyone reading this message board).
1. There are some grim warnings here for those who uphold a secular, welfare-based society as some kind of ideal arrangement that all of us should be striving towards. But I am almost positive those warnings will pass by unheeded in the US.
2. The article doesn't go into it, but the % of Europe's people who are Muslim is going to explode (pardon the pun) in the next 40-50 years. Those who have looked to Europe, or certain countries within Europe, as some sort of social model to be emulated in the US are in for a very rude awakening, as the values of the Qur'an become more deeply embedded in European law and custom. For those who claim that's not going to happen, the shock will just be all the worse.
3. It's interesting to see such an article in a liberal-approved outlet such as The Atlantic magazine. Not so long ago, publishing something like this would get the author and the magazine labeled as an "alarmist", and probably as a "right-wing alarmist" at that. But, over time, demographic reality has a way of puncturing even the most zealously-guarded ideological barriers.