If Europe were capable of doing this, Europe would not need to do this. They'd already have active and vibrant tech scene compared to US one - EU is bigger than US by population, and certainly not less smart - in fact, a lot of people live in EU and work for US tech companies. So why US has "big tech" and Europe does not? They decided their political model must work differently, even at the cost of not having big tech. So now they don't have big tech. And no amount of committee meetings is going to change that, even if all governments would want it really, really hard.