I'm a European and have seen the devastating effects of alcohol on both sides of my family. I can't imagine any positive effects that would be able to offset and I've never drank a drop in my life.
This is not without correlation.
Between drunk drivers, abused spouses and abused children there is a ton of alcohol related misery. For me personally none of the positive effects of alcohol begin to offset those. Not everybody is able to deal with addictive substances in a responsible way.
I'm perfectly ok with other people drinking (as long as they don't negatively impact others), I just saw the generalization above and figured I would contribute a slightly different point of view.