In theory, that's a great idea, but, in reality it is fraught with peril.
France and England had the lead in World War I and World War II, and they weren't up to the task. In the past, they haven't been able or willing to fulfill their previous security guarantees with Belgium, Czechoslovakia, and Poland.
Let Canada take the lead in NATO. They have closer historical and cultural ties to France and England.
European powers have a habit of making secret, duplicitous agreements among themselves to either maintain a 'balance of power' or 'dominance' over the European Continent. They are always trying to re-draw the world's boundaries to their imperial designs.