My question now is whether European hosting providers sprouting up in the face of the US CLOUD act will step up to provide those services.
Do you think many banks worldwide would enjoy declaring themselves the enemies of the US government in order to assist left-wing lunatics?
No, because they don't want to be banned from banks. With few exceptions, the US has power over all global financial systems. Also tier 1 ISPs (even the European ones), which trickles down to all ISPs.