Primae facie, there are parallels between the Europe of today and Europe of the 1930s. However, in the 1930s, Europe was dominated by dictatorships, staunch trade protectionist policies (the only free market existed between Britain and her Empire L), rigorous border controls, deep suspicion between States (engendered in part from the Great War), entrenched anti-Semitism (not just in Germany, either) and a proxy war in Spain.
Clearly, Europe is in deep, deep economic poo, but it is beyond the realms of any reason to imagine, for example, the Bundeswehr saddling up, storming through the Balkans and seizing Greek assets (again) so that they will stick to their Austerity Plan (ditto Spain, Portugal, Italy…). We will see economic Nationalism (protectionism by another name) to protect jobs and votes; we will see even greater pressure on migrants and internal (EU) migration policies, we will see greater civil unrest, protest and increased polarising of politics and politicians. We might see return, indeed spread, of the Anni di Piombo intra-State terrorism that characterised Italy during much of the post-war period. But not inter-State conflict.
But of course I could be wrong. That’s why I’ve stocked my cellar with food, weapons, Kruggerands and D-cell batteries. They ain’t gonna take me alive…