Right, but Europe’s been making a lot of noise around digital sovereignty, etc. Lately and it’s hard to see how that gets better while the wage to COL ratio stays so bad.

I don't understand the relationship between those, the wage to COL is not "so bad" comparatively to the majority of the rest of the world, it's a rich continent, and Western Europe is by any metric one of the richest places in the world while Eastern/Southern Europe is comparatively rich if you measure against most other countries outside of Europe, Oceania, and North America.

You are again comparing it against the USA, the very outlier, and in specific places of the whole country even, of course then everything else will be "so bad" except for very few places on the whole Earth...