You are unfortunately correct - doesn't change the fact that they need a Reagan or Thatcher. They're hitting their "general malaise and stagflation" stage, hard. They need a Reagan or Thatcher more than we did.
The only problem is that it looks like they ran off all the possible candidates for that role years ago.
I agree with you. However, I have faith in the Europeans' ability to sacrifice practicality, decisiveness, individual freedoms, optimism and cojones for the sake of a creative, 'nuanced', deep "idea" that ignores reality.