There's a foreign tax credit up to $100k. So, for the retired, I don't think paying extra tax is an issue.
(Not exactly) Pro-tip: if you are in pretty much any EU country, and have anything on top of earned income (rental income, any form of government-paid benefits), you are possibly better off not claiming the FEIE - there’s a reason you have to specifically request it when filing, and it’s not because the IRS want to be jerks (about that, anyway).