Europe stands at a crossroads. The continent can no longer maintain the status quo—the economic landscape has shifted, and difficult choices lie ahead. There are five critical luxuries that European economies must abandon if they want to remain competitive in the global arena. From unsustainable fiscal policies to outdated industrial models, these trade-offs aren't just about survival; they're about positioning for future growth. The sooner European policymakers acknowledge this reality and adapt their strategies, the better positioned the region will be for the economic challenges and opportunities ahead.