Timothy Garton Ash provides an interesting discussion in Prospect.
Here's an excerpt:
Europe has lost the plot. As we approach the 50th anniversary of the treaty of Rome on 25th March 2007—the 50th birthday of the European economic community that became the European Union—Europe no longer knows what story it wants to tell. A shared political narrative sustained the postwar project of (west) European integration for three generations, but it has fallen apart since the end of the cold war. Most Europeans now have little idea where we're coming from; far less do we share a vision of where we want to go to. We don't know why we have an EU or what it's good for. So we urgently need a new narrative.