Increasing consolidation of wealth paired with the faux rise of asset prices (homes) that are primary investments for the middle-class has been doubly crippling. Stifling demand while directing austere policy that weakens safety nets for the already crippled middle-class. Solutions are very clear if you can see through the fog of rhetoric & intellectually dishonest information being reported without the mechanisms of fact-checking.
On a side note: The EU is structured in a manner that prevents debtor nations from issuing their own currency, which leaves them ill-equipped to handle debt-driven downturns (think of them as states within the United States, which is why we have transfer payments).
The news culture of today allows people to create their own selection of filtered news. Virtually creating an echo chamber that can sometimes drown out logic & reason, the individual can selectively bundle the derivatives of propaganda. The contemporary conservative party is trapped in the vicious cycle of perpetual ignorance, where ambiguous rhetoric is then interpreted, often unjustifiably to suit an individuals goal whether it be grandiose or that of the ardent supporter.
The destruction of the middle class was not an accident of the market but rather was driven by policy. It can be reversed by better policy.