Article is ridden with errors, mostly based on a faulty premise. Europe is not a country. Europe isn't even the EU. Laws, regulations, attitudes and tax rates vary widely. If you want to do a startup in Europe, choose a country first and then read up.
It is pretty insightful to see how a seasoned American Entrepreneur perceives Europe and the obstacles that can be found here. Not necessarily every obstacle applies everywhere. Some countries might even have different things hindering their competitiveness than those outlined by the article. But it definitely isn't all peachy for businesses over here (or there).
This article does provide a kind of road map on how Europe could improve its business environment. If it wants to is a completely different question.