Update: Pascal Bruckner explains why America has the wherewithal to survive but Europe likely does not:
The United States, despite its own faults, retains the capacity to combine self-criticism with self-affirmation, demonstrating a pride that we lack. But Europe’s worst enemy is Europe itself, with its penitential view of its past, its corrosive guilt, and a scrupulousness taken to the point of paralysis. How can we expect to be respected if we do not respect ourselves, if our media and our literature always depict us by our blackest traits? The truth is that Europeans do not like themselves, or at least do not like themselves enough to overcome their distaste and to show the kind of quasi-religious fervor for their culture that is so striking in Americans.