The following is a Salon article, which means that you have to get a free day pass by looking at a commercial. (Close your eyes and click.)

Europe's declaration of independence
Frustrated with the warmongering and arrogance of the Bush White House, Germany and France are making a historic break with the U.S. Relations may never be the same.

As American and British forces continue to flock to the Persian Gulf, a stunning global rift is reaching historic proportions. Not since the end of WWII has Germany, one of America's staunchest allies, refused to support the U.S. on a major foreign policy issue. And now, France, which was instrumental in defining the terms of United Nations Resolution 1441, has opted to join the ranks of the "refusal camp," as it is being called here. Both countries in recent days reiterated that they would block the U.S. request for military and logistical support from NATO to prepare for a war with Iraq. Unthinkable a decade ago, such a move could be a sign that old alliances are in for a profound change.
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I link to the Salon article because it reinforces the following at The Argonist.

The End Of The Alliance

It's over. Done. Kaput. Dead.

No, the headlines aren't all ablaze with ledes like "NATO Folds" or "The End Of An Era". Alas, the newspapers are usually to late, as well as the diplomats. But this week there has been a sea change (pardon the pun) in the Atlantic Alliance.
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A lot of the comments on the above write off the French and Germans since they they don't have a comparable military. I'm not sure that makes a difference. Or it could make a difference and not to our favor. We spend on guns while they spend on butter. The EU now has twice the population of the US. It's still weaker economically but that could change. We are starting to see a countervailing force to American hegemon. Everything changes.