There is more to running a business than profit, profit and profit. Other EU governments recognise this whether it is cars, house building or running an airline. The middle classes are the engine of the economy. If there is a race to the bottom on T&C's just to maximise profitability, who will be able to afford to buy a new car, update the washing machine or buy your own place.
Yes, good old socialism for the middle classes; screw those who actually need state assistance at the bottom of the pile.
That is why the European economies and a nepotistic, rotten collection of dated economies, lacking the dynamism of the Asian and South American countries who are in the process of overtaking them.