There definitely are a lot of generalizations in the article but there also are a lot of valid points.
It is pretty insightful to see how a seasoned American Entrepreneur perceives Europe and the obstacles that can be found here. Not necessarily every obstacle applies everywhere. Some countries might even have different things hindering their competitiveness than those outlined by the article. But it definitely isn't all peachy for businesses over here (or there).
This article does provide a kind of road map on how Europe could improve its business environment. If it wants to is a completely different question.