Val e-diction asks this contrary question in his inaugural post, citing this Jerusalem Post column. The point is that Blair’s visceral pro-American orientation led him to offer early support for the war against Iraq, while Chirac and Schroeder have cynically opposed U.S. efforts in a way that may give them disproportionate bargaining power. The U.S. will thus have to pay off France and Germany to gain their cooperation, while Blair will gain nothing except the enmity of many of his Labour colleagues.
I doubt that this is how events will play out. Bush may decide that we don’t need the Euros (do we?). Blair’s political position may not suffer, especially if we defeat Iraq handily. Still, these concerns bear keeping in mind, particularly if the war goes badly.