Two-thirds of citizens in Germany believe that developments in the US have a greater influence on Germany today than they did before President Donald Trump's second term.
This, plus the blackmailability (is that a word?) that comes from being dependent on US cloud services and US payment providers.
There are many instittions and companies in Europe who would be absolutely f*cked if they even just temporarily lost access to their Microsoft/Apple/AWS/Google/Meta/Mastercard/Visa/Paypal/... accounts.
And since the current US administration is a bully who will exploit weaknesses for their own gain, ... add 1+1 together yourself.
Europe had a lot of time but never bothered with sovereign IT. Even with the current US administration they still mostly continue like before, as if nothing changed in the world.
That's like technical debt. It may not haunt you now, it may not haunt you within 10 years, but it WILL haunt you at some point. That point is now within viewing distance.