Europe is toast while the EU and Euro exist....always will be. The only continent on earth still deep in the global financial crisis.
Rest of the world moved on years ago. When companies can still advertise for 500 hours on type, reject turbo prop guys with 1000's of hours, reject jet pilots for jobs because they dont have THAT particular jet rating even though they may have 1000's of jet hours then you know things are bad.
Try bonding a guy in the US or asking for 500 hours on type. You will be bankrupt before you know it.
Europe is light years behind when it comes to providing a top performing aviation industry!