Time for a bit of unfortunate truth telling. Europe is in decline and is no longer worthy of defense discussion as a whole. Certain countries are maintaining robust capabilities, developing them etc...but as a pseudo-nation state, Europe is unworthy of discussion as a military power.
Roll Call.
England is no longer worthy of discussion. They have destroyed their own forces in a way that no enemy could.
Germany is a non player in defense matters. They maintain a strong industrial base solely for the opportunity to export weaponry. A pacifist, isolationist strain exists to such an extent that they are the European version of what Japan once was.
Italy is worthy of discussion. Besides maintaining strong naval forces, they have proven that they have the will and the means to exercise force.
Spain. Ditto.
Romania is definitely worthy of discussion. They are an example of "new" Europe and probably represent the saving grace of the continent. Romania, along with the rest of the former Soviet Union satellite nations still possess a strong view when it comes to national security. It is tinged with a big dose of practicality. Once economic conditions improve expect these nations to shoulder the burden of the defense of Europe.
The Netherlands and the rest of the Nordic Nations. Worthy. They maintain strong forces that punch well above their weight. Again, economic conditions will determine exactly how robust those forces will be in the future. They do bear watching though.
NATO is dead. This Libyan Conflict has shown that it is an institution that is out of balance and is not composed of equals. Time to "hold it underwater till its feet stop moving". The US gains no benefit from this alliance.
A favorite European past time is to discuss the demise of the United States. Time they looked in the mirror. It appears that not only has the US shouldered the burden of the defense of the West, but we also saved most of Europe's Banks during the economic meltdown.