This might be possible for software, if we assume that being open source can protect software from state or corporate control (doubtful to be honest). For other things I don't really see how it would work. Your hardware has to be manufactured somewhere, your infrastructure has to be located somewhere.

It is not "nationalistic" to prefer things that are made in Europe. Europe is not a nation and very few people feel anything close to national pride about it. I like that we have European alternatives instead of German, French, Swedish, etc, alternatives.