With the European Union mired in an ongoing debt crisis and the U.S. shifting its strategic focus to a rising Asia, it has become almost fashionable to count Europe out as a global power. But the EU’s past successes and enduring strengths suggest that Europe’s postcrisis prospects need not be bleak. Javier Solana looks at the EU’s role in the Asian Century. Judy Dempsey proposes a new vision for the trans-Atlantic relationship. And John Peterson explains why bashing the EU is so easy—and so wrong.