It seems as most of the EU will probably ratify their constitution. This would open up new trade alliances throughout Europe to try and combat the U.S.'s financial and cultural influence over Europe.
The current plan would allows the EU to acquire a small military planning capability to enable it to take on operations independently of NATO. However, the constitution emphasises that NATO remains the foundation of European security.
So basically, the EU wants to continue to use the money that would normally go to defense, and spend it on programs to make the EU stronger intrernally (education, health care, trade). While the U.S. continues to make up the bulk of the power behind NATO. As the EU and its countries become stronger, so would its power to undermine U.S. trade interests.
So the EU wants the security that comes with being an ally of the U.S., but they want to spend the money that they are saving on defense to fight the U.S.'s trade partnerships. Hmm, does anyone else see a conflict of interest?