But high economic performance this isn't. Adaptability of market to ever-changing world that certainly isn't neither. Europe is getting hammered by this and things will get much, much worse in upcoming years. We will have to revisit our comfy lazy attitude towards work, or end up being a stagnant place with 3rd world salaries and corresponding QoL.
Switzerland is doing things much better, its sort of in between both extremes and economy is reflecting this very well. But EU leaders egos will sooner accept poverty than that somebody figured out things better than them.