That's not the only reason in my opinion. It's way easier for European graduates to find a job and cruise on to retirement. The govt takes care of them for life

That's not the only reason in my opinion. It's way easier for European graduates to find a job and cruise on to retirement. The govt takes care of them for life and so the do or die attitude needed to start a company just isn't there in most countries. This is a consequence of the welfare state most of Europe has become.