The European Union (EU) is the world’s largest economy and foreign aid purveyor, and its defense spending surpasses that of the BRICs combined. Yet Europe is in a prolonged crisis. Greece has received a second bailout, while many other eurozone economies are experiencing negative growth and enacting deeper austerity measures. The EU is struggling to find common positions among its members on both internal and foreign policy issues, while the United States is pivoting toward the Asia-Pacific region. Is Europe’s influence in the world waning? What are the implications of the current crisis for the future of NATO and the transatlantic alliance? How can the alliance address these challenges? Join The Chicago Council and Jaap de Hoop Scheffer for a continental perspective on the developments in Europe and the future of the transatlantic alliance.