The big picture isn't that different in Europe. Most EU countries are also oligarchies, just with a lot more bloody histories and national traumas. The social safety net is kept to the level of remembrance of those traumas. Once people start forgetting them, the oligarchs will take away the rights one by one.

The response to US betrayal is weak because our oligarchs own lots and lots of investments in the US. Our banks invest in US treasuries and especially in the US real estate market. They then leverage those US investments against normal people in the EU and consolidate more and more power (and assets) and blame normal people for not having investments or not working enough. They are the ones who take away EU GDP and park it in US investment tools. Forming businesses is more risky in many EU countries due to extremely conservative policies of those same banks who prefer US investments instead.