It's not a surprise to see Brazil overtaking the UK as the 6th biggest economy in the world. And it shouldn't be to forecast that Germany, France and Italy will slip to the last positions of the world's top ten until 2020. It is a long announced trend. The only way to actually prevent Europe from becoming a peripheral region is a strong economic and federal political union - that would actually act as one and boost the European Union (and its Eurozone) to the top position on the world's economy. Maybe the present crisis is a good wake up call on the need to actually work as one - if it survives all the pressures bearing on the Euro right now.
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