This will be an unpopular opinion, but that's not necessarily a bad thing. How many wronged plaintiffs in Europe end up never having their day in court because of the threat of paying the other party's attorneys fees?
When people think they're in the right - they sue (or defend).
Further, because of the 'loser pays' system, if the case is obviously bogus or blown up, often a lawyer will agree to take up a defense just for the right to claim the other side's expenses (e.g. instead of paying the lawyer, the lawyer takes a relatively small fee plus the right to any 'expense fees' leveled on the other side).
In addition, I believe that in most of Europe lawyers cost a lot less than they do in the US (certainly so in Israel), to which a contributing factor is that less litigation going on.
As a lawyer, I don't see how this is a positive thing :)
But seriously, nobody knows how many cases there are at the margin that don't get brought due to the loser pays system. Neither system is perfect though, and I can certainly make arguments in favor of either.