I think in Europe there's a bunch of local markets with a lot of companies that do not want to compete for developers, not within the EU and definitely not with the US. They'd rather push talented developers to leave than raise wages (and maybe it makes sense in their business).

You need to find the pockets in the market which do compete for talent on an international (at least EU-wide) level. That may be foreign tech companies, remote jobs, maybe the very hottest of startups in your country (with stock grants). I like this article (https://blog.pragmaticengineer.com/software-engineering-sala...) which goes deeper into this.

A "trick" which works in my market (in France) is to work as a contractor instead of a full-time employee. When I did this move I basically doubled my income overnight while keeping the same job title. A lot of companies will balk at an engineer asking for 70k€ as an FTE, yet have no qualms paying the same person 7-800€/day for 2 years as a contractor.