The EUV and other factory equipment everyone's using is predominantly European. High-end testing tools used in R&D are largely European.

The fabs aren't, and that is no small thing. The tech stack is there though.

It's pretty tiresome that the HN audience keeps assuming Europe doesn't have "tech" because it doesn't have Facebook. Where do you think all the wealth comes from? Europe is all over everyone's R&D and supply chain.

I sometimes wonder whether people realise which country ASML is based in, and which country their major suppliers are in (e.g. optics: Germany)