Mainland Europe has never had a culture of computer hardware development or manufacture. They've been coasting on the United States and Britain since WWII. Name me a CPU architecture developed in the EU. There's one, ARM. British.

Furthermore, Europe just doesn't have the work ethic to run a chip fab. You know those attempts to bring fabs to the United States? They're running afoul of American labor laws, turns out American citizens won't work 14 hour days like the Taiwanese. You lazy ass Europeans with your 51 weeks of vacation a year don't have a snowball's chance in hell of making your own CPUs.