My take is the Weber is talking up the Euro as the ECB [or the other central banks] doesn't want any more rapid erosion of its value. COT's are massively short against the european currencies, if that really means anything.
I agree that the rest of the world has yet to decouple from the US, but you may need to update your reference books: the economy of the European Union as a whole is the worlds largest economy. http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)
Great link, although caveats obviously apply. I'm a fan of the Euro economy, but I also see China overtaking Germany and Spain dropping below Canada, Brazil, Russia and India before this cycle is done. Iran could be a dark horse.