EUROPE, WITH SHRINKING POPULATION HEADING FOR THE SEWER, NOT
Pat Buchannan was attacked by everybody to the left of Benito Mussolini for his Western population decline analysis; he was called a racist; a Nazi; and wrong. Now everybody is saying what he said only not referring to him at all. The prediction now is that Europe will be in the toilet because they will have a disappearing population

THERE IS ANOTHER WAY TO LOOK AT THIS

Smaller population with the smaller work force available might mean that they will automate all industries and will surpass any competition on the planet. A new Japan.
Nothing is written in stone that says populations might not rebuild, especially if opportunity for wealth and happiness are apparent to the child bearing population; meaning they can afford to have lots of kids.

THE LABOR UNION "PROBLEM"
Large industrial Labor Unions can only exist in conjunction with large industrial corporations. Europe has cartels and huge auto and telecom companies. The U.S. has the auto companies and of course government, and nothing gets bigger than that. The U.S. unions have only organized those two "industries" plus segments of interstate trucking and the building trades that include high rise construction; also all government contractors. There is nothing that says the EU unions may not go into decline when the pension funds suddenly dry up because there aren't enough employees to fund them (as is happening in France right now). A result could be a sudden loosening of work rules and shrinking of benefits, like the six week paid vacation, "tea" breaks, and the right to challenge each and every order. EU productivity could explode.

A principal purpose of the EU is to try to "save" an economic system that supports huge labor and huge business while punishing small business. They are trying to build a "fortress Europe" that dictates what others can grow in order to do business with them and so on. But how long will Africa be run by thugs who let their people starve as a price of doing business with France? There is nothing written in stone to say this has to continue, particularly if Asia and America start to truly kick their asses.

Europe doesn't look too good right now but things can change. I wouldn't count them out just yet.