Yeah, European airlines are in turmoil their legacies are melting in the face of open skies, LCC startups, and "creative" use of cross-border regulatory and labor shopping.
The future in europe is Ryan Air, NAI, and the near-unbelievable shenanigans in this story (read the whole thing):
http://www.airlinepilotforums.com/re...l-airline.html
Count your lucky stars that you have right-to-work in the US, buckle down and focus on getting a legacy, SWA, or FDX/UPS job. Plenty of younger euro pilots would LOVE a US legacy job right now.