Dude, I went through the European PhD system and it's not as glamorous as you depict it. First of all, you forgot to mention that the norm is to give contracts of 50% to 75% FTE. Secondly the hours worked and the vacation time is a complete forgery that you are basically forced to sign. Although the contract is nice on paper, in practice the norms and expectations are different. Thirdly, unlike in the US, in Europe you often don't have a graduate school (although it is a thing) so you are in a very vulnerable situation where you invest 3 to 5 years of the best years of your life and during those years your graduation is completely at the mercy of that supervisor.

There is no “European PhD system” in terms of funding, or the duties expected of a PhD student other than the production of the dissertation. Different countries around the world do it differently, and that is true even within Europe.