Hetzner is more of a traditional hosting provider, not a cloud services provider. They have regular hosting, collocation, vps and some simple storage solutions. They have only recently added Object Storage to their portfolio. It's all focused on servers.
This isn't really the same thing as wat Azure and AWS provide. Those are true cloud providers, where you can design your own infrastructure based on their services. And we're talking dozens of services. It's all managed centrally and completely hardware agnostic and if you want even location agnostic. Services are provided on a pay per use basis, although things like reservations can help to prepurchase services and reduce costs as a tradeoff to flexibility.
There are plenty of traditional hosting providers in the EU, but no real cloud services providers. There are some smaller that offer some of the services. But like I said, for a bit bigger of a setup you'd need at least a dozen providers. Just scroll through the list of services provided by Azure or AWS. And especially for Azure, the way everything is managed through the Azure portal and how all the services integrate with each other is second to none.
OVHCloud comes closer in terms of functionality but in the past they were limited in capacity and locations. They are working on that at the moment. They've also had some big reliability issues, which they are also working on. It's probably the most promising alternative, but they aren't there yet.
