This push probably won't work because it's a push by politicians. They've managed to create conditions that are not suitable for the organic growth of the semi-conductor industry in Europe. Now they're slowly realizing that it's a problem, but it's a bit too late. You can't force an industry to appear and expect it to be competitive on a global scale. People are still going to be buying devices with chips manufactured in Asia.
They will probably have a similar realization about software in a decade or two.
They will probably have a similar realization about software in a decade or two.