There are plenty of people this side of the Atlantic who would love to make twenty-five bucks an hour. Westoid programmers are hella entitled.
Europe has the individual talent, but their capital markets tend to be sclerotic and risk-averse, and in the case of certain countries, protectionist as well.
Ultimately, if there are no other constraints interfering, the pay will gravitate towards being as low as workers are willing to accept (which ultimately is a function of costs of living).
In a way, every developer that feels "entitled to" high salary is contributing towards keeping the programmer salaries high, so it's in our all our interests to keep asking for more, not less :).