Europe has no position in "cloud" at all, but (government) initiatives abound to change this. In the post below I argue that AWS & friends are "IKEA clouds", attractive because they offers everything. And no one can compete with IKEA. I also argue that modern clouds are also incredibly advanced (like airliners), and that you don't just replicate those either. Instead, Europe might might be better served by a narrower initial ambition:
https://berthub.eu/articles/posts/taking-the-airbus-to-the-ikea-cloud/