IMHO Europe changed massively since the 80s and 90s in that regard, though.
Arianespace was pretty much SpaceX of the 80s and there were quite a few tech companies back then. Due to various reasons stagnation entirely took over Europe after the start of this millennium. Hard to say why. Certainly not putting all the blame on them (since Britain isn't doing that great either) but I don't think especially the Euro and the EU becoming much stronger helped.
Arianespace was pretty much SpaceX of the 80s and there were quite a few tech companies back then. Due to various reasons stagnation entirely took over Europe after the start of this millennium. Hard to say why. Certainly not putting all the blame on them (since Britain isn't doing that great either) but I don't think especially the Euro and the EU becoming much stronger helped.