Political and demographic changes within Europe, as well as the United States, also ensure that the transatlantic alliance will lose prominence. In Europe, the E.U. project still consumes the attention of many, but for others, especially those in southern Europe facing unsustainable fiscal shortfalls, domestic economic turmoil takes precedence. No doubt, Europe’s security challenges are geographically, politically and psychologically less immediate to the population than its economic ones. Mounting financial problems and the imperative to cut deficits are sure to limit what Europeans can do militarily beyond their continent. It is true that the era in which Europe and transatlantic relations dominated U.S. foreign policy is over.

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