Of course it is the end of Western Civilization as we know it. Europe is dying and decaying. As ex-European, I am amused and amazed how f.ed this Continent is every time I go there. Just comparing gas prices, choices of goods in the stores in relationship to USA, prices of almost all consumer products, tiny housing, dilapidated roads-cities-infrastructure-factories. And Europeans do not care! They just want to have a good time even when living standard is declining and stagnating. 1/4 to 2/5 of European youth is unemployed; yet they go live with their welfare money in some 3rd world country and party like is no tomorrow. 2/3 of Germans never will own house, they will just continue to rent. Almost half of Europeans do not own car, because they cannot afford it; but they being brainwashed by green-party ideology that they are environmentally conscious. Europe must bankrupt and get on its knees so people can learn to work and taking care for themselves instead depending on state and welfare.
I know I just sound too critical of Europe, but Europeans totally resigned on improving their society and economy in the past 25 years. This can only change, when the society is totally down, and they have to start from nothing like did Germans after 1945.