Any attempt for the application of integrated drought management requires identifying and characterizing the event, per se. The questions of scale, boundary, and of geographic areal extent are of central concern for any efforts of drought assessment, impact identification, and thus, of drought mitigation implementation mechanisms. The use of drought indices, such as Standardized Precipitation Index (SPI) and the Standardized Precipitation Evapotranspiration Index (SPEI), has often led to pragmatic realization of drought duration, magnitude, and spatial extension. The current effort presents the implementation of SPI and SPEI on a Pan-European scale and it is evaluated using existing precipitation and temperature data. The ENSEMBLES Observations gridded dataset (E-OBS) for precipitation, minimum temperature, and maximum temperature used covered the period 1969–2018. The two indices estimated for time steps of 6 and 12 months. The results for the application period of recurrent droughts indicate the potential that both indices offer for an improvement on drought critical areas of identification, threshold definitions and comparability, and towards contingency planning, leading to better mitigation efforts.