Europe is about to step up to the superpower plate by creating the office of President of the European Union or President de l'Union Europeenne.
In my opinion, the sooner the better. After all, competition is good.
The diplomatic problems of the last half year have mostly stemmed from smaller countries being ignored or disregarded by the leadership of the United States. Without considering who was right or wrong, diplomacy would have certainly run a different course if the Bush administration would have had to deal with the European continent as a whole, instead of being able to pick off dissenting governments one at a time.
A stronger Europe could aid as a system of checks and balances for our own decision making here in the U.S. We used to have a soundboard in the form of the Cold War alas that situation is not one I would like to see repeated although Rocky Balboa, Rambo, and James Bond desperately need new opponents for upcoming projects.