I don't have data for the whole of Europe, but bachelor degrees in Germany are much less common than in my country despite the fact that higher education there is much more accessible. This seems to correlate to the fact that Germany also has a very well-established system of vocational schools and university there is seen as a way of becoming a researcher or for certain high-skill careers, not a requirement for being treated as a functional human being (which is what I see higher education becoming in the US and my country both).

I can't speak for all of Europe, but Germany avoids having university degrees becoming a mere piece of paper useful only for signaling by having alternate paths to a fulfilling career.