Sure, please let me know how the EU plans to build Office 365, AWS, GitHub competitors of similar scale, quality and success.
We have no private investors that would pony up enough money to go against US tech titans and fat chance the EU would ever fund such initiatives and if they would, the money would evaporate over night to companies with political connections and overpriced consultants who would just produce documentation.
Let's face it, the ship of EU dominance in tech has sailed a long time ago, we might as well get comfy with the US pulling the strings on that front.
The only way the EU would ever stand a chance is if the EU would pull a Chinese style great firewall and outright ban foreign tech companies on their internal market, leaving space for local companies to spring up and fill the void but that will never happen.