Time will tell whether the nuclear agreement will have the desired results: elimination of Iran as a nuclear threat; reduction of its sponsorship of terrorist activities; opening Iran to commerce with the west; and guaranteeing Iranians a full range of human rights. But it's an important (long overdue) first step.
Increased cooperation between the U.S. and Europe facilitates a safer world. Europe and America can play the clichéd "good cop/bad cop" in real life, utilizing the best combination of hard power and soft power to secure global security allowing prosperity. I just hope Europe can see the advantages of playing a larger role too.