No, actually:- the Europeans, and everyone else, need to manage their OWN economies in a sensible fashion - this includes a money rate high enough to give a real return vs a slowly inflating currency. In the USA, a 3% cash rate is actually losing money - inflation is at around that level or more. If you get taxed on your "investment income" then the government takes 1/3 of your 3%, and you get left with a 2% income and a 3.5% to 4% loss of capital value, in US$, and a bigger loss in international terms as the US$ slips.

The big problem in the USA is a loss of confidence, centred on a huge trade imbalance, part of which is with China...

Forget about "The Europeans need to..." or "The Chinese need to..."

The important thing is what "The Americans" need to do:- Get your own economic house in order...