Economic Divide: Europe losing economic dynamism

Europe is on life-support?

How can that happen? Maybe an exaggeration, maybe not. But the danger signs are there. The continent that has shaped world history more than any other region in the last 500 years finds itself to be a wandering bystander today. The European Union is facing an economic crisis. It can't adjust to the old reality of cheap gas, and it has shunned its main economic partners Russia and China and relied more on the US, a move that hurts its economy more than it helps it.