I kind of share the opinion of the FSF Europe that it is less important where software comes from compared to whether it’s libre, but for cloud hardware I really hope that we manage to create competitive European offerings. Maybe we’re lucky and this European initiative will produce more than five Fraunhofer institutes and a gift to SAP.
We already have excellent cloud providers in Europe. But most importantly, most businesses using the cloud would be better off with simple on-prem solutions. So much cheaper to operate and control.
Until you factor in the salaries of the new employees you have to hire now, the cost of that hiring process, the compliance and security implications of operating servers on your premises, the ongoing maintenance of the software and operating systems, the new infrastructure to maintain, including but not limited to backup power supply and overall redundancy, the need to manage the lifecycle of the new hard- and software, the documentation for all of this… I could go on for a while.
It's not like these cloud solutions are just solving laziness.