How Europe's crisis resolves itself as yet remains unknown.
But with Sunday's returns from France and Greece, the mega-trends on the Old Continent are unmistakable. And for the European Union, they are ominous.
Nationalism -- be it economic nationalism or ethnic nationalism -- is ascendant. Transnationalism and multiculturalism are in headlong if not irreversible retreat. The European project is itself imperiled.
To be sure, no one should underestimate the commitment of Europe's elites to the vision of One Europe as challenger to the United States. In the capitals and corporate headquarters of the continent, these elites are, almost to a man and woman, devout Europeans.