2. Quality of live is definitly higher in some parts of europe. There are public statistics for that
[1] https://www.numbeo.com/quality-of-life/rankings_by_country.j...
[2] https://en.wikipedia.org/wiki/World_Happiness_Report
[3] http://www.businessinsider.com/happiest-countries-best-quali...
There is really no reason to argue that, more money does not mean more quality of life. Especially its very different if you look below to the IT bubble.