Combined European armed forces (enemy, military, cost, financial)

[Avondrood]

I've just read an interesting article (in Dutch) about the ongoing military integration of the European Union armies.

According to Wikipedia the number of active military personnel is 1,536,274 (with an additional 4,549,222 Reserve Force). The combined defense budget of the 27 member states would be € 284,9 billion (or $ 406,7 billion), second only to that of the United States.

Suppose in the future the Union members would combine their military forces and would form one single army, what would your take on this be?
Would you applaud such an army? Would you, on the other hand, see it as a potential enemy? Or could you care less ? I'm especially interested by American views on this matter.

I'm well aware that this is probably not going to happen anytime soon. But I must admit I'm somewhat fascinated by the possibility of the European Union becoming a true military power.

[GregW]

Unlike the Army of the World "defending" the International financial and pertoleum Cartrels, European Armies are designed to make their own countries too expensive to invade. That cost a lot less than our Colonial Army.