The 'peak' has now very much passed in Europe; in Britain this was in the first week of April. Europe is starting to open up; 15 June will see full openings of many of the internal borders in the Schengen Area.
The UK quarantine regulations start on Monday, but I really don't see them lasting for too long - summer holidays abroad will definitely possible... but in a somewhat different form. Clubbing is likely to be very much off the menu, along with buffet breakfasts.
Fears of a 'second wave' are widespread, with every little rise in cases jumped on by people who believe we shouldn't be lifting lockdown now. We are going to see these mini-spikes across Europe, often hyper-local ones linked to a specific workplace or community. The overall trend in cases is something that needs to be taken into consideration and localised increases in restrictions may be needed as we continue to damp down this fire.
Ultimately, it will be imperative on us to 'stay alert' and take reasonable personal precautions to prevent further spread. That will mean wearing face masks, even if they are pretty uncomfortable, which will be a small price to pay to save lives.