As for any Eu nation being able to afford a launch industry on its own. If Iran, NK and India can afford it why not Germany, France and GB?
As for European billionaires starting or investing in a private launch company. Why can’t all those EU billionaires do just that? Whats stopping them?
There are just as many billionaires in the Eu as in the USA. Maybe even more.

This may apply for the government launches, but as long as the commercial companies are free to choose then Europe’s commercial space industry should be able to thrive based upon the best launcher for their needs.

An important question for you: is it true that you – we many here – are also opponents of globalization? I suppose, although I cannot recall any specific comment from you on this. If so, then you should also reject the important element of globalization – the free exchange of goods and services worldwide, which of course also includes the offer of satellite rocket launches! So no worldwide free economic market for satellite launches from your (and our) point of view !? There is also a strategic, military element here. No sovereign state in the world will forego its own ability to launch satellites just because of the price!

Richard M: Ariane-6 won’t compete. Instead, it will survive because ESA will mandate (a popular word these days with apparachiks) that its member nations use it for all government launches. The result will be that Europe’s space effort will repressed because it will cost too much to launch many things.

The story above is exactly an example of that. The Galileo satellites could be launched much cheaper on other rockets, but ESA needs customers for Ariane-6, so that’s the rocket they launch on.

Arianespace’s new rocket is squarely aimed at where the launch market was 6 years ago.