Before they coul fund AOS4 they have to buy it first, and you might know, the parts that existed in AOS3 still belongs to Amiga Inc. and the part that is new in AOS4 belongs to Hyperion. Taking something Open Sourde might be easier.
The legal stuff has to be resolved. Would 100 Million Euro be enough?
The only question is: could AmigaOS be the best possible EU-future-OS? If the answer is "yes" then there is enough money for everything - just think of all the money spend for MS, Intel, Apple, ...
Obviously AmigaOS has to be improved but than there is a good chance to have an excellent OS one day. Can you imagine MSwindows becoming an excellent OS?
There's a knack: if AmigaOS will really be very good, the USA would rather burn it than give it the EU. If the USA thinks the EU makes a great mistake in using AmigaOS and not Linux, they will happily give it them.
The strategie for the EU is simple: give us AmigaOS for a fair price or we'll use Linux.
The point is: Linux may be the easier way to replace MS but AmigaOS may be the better way (because of the chance to get something quite perfect done).