Europe simply printed more money than the US. Same for everyone else.
My understanding that the US stimulus was generally unparalleled
In 2021, EU total amount of quantitative easing was 2.947 trillion euro's. https://en.wikipedia.org/wiki/European_Central_Bank#Low_infl...
US: $4.5 trillion https://en.wikipedia.org/wiki/Quantitative_easing#:~:text=Th....
EU: 3.4 trillion euro (https://www.ecb.europa.eu/mopo/pdf/APP_cumulative_net_purcha...)
US: 8.9 trillion usd (https://www.statista.com/statistics/1121416/quantitative-eas...)
3 trillion euros / ≈14.5 trillion euro gdp of the eurozone ≈ 20.6% of gdp
4.5 trillion USD / ≈23 trillion US gdp ≈ 19.5% of gdp