The problems Europe faces are structural, the same as Japan's. I'm on my phone and in vacation so don't have enough time to comment, but tgat's enough saying that Europe being behind the US has almost nothing to do with the Euro, it's just that the Americans work more (for better or for worse), there's a lot less labor regulation (for better or worse) and that's a totally different spirit present in America (I'm European). Capitalism can only win if it grows, like it does in the States, but the people of Europe have decided that it was time to take a break and start enjoying life for a moment (for better or worse)