Interesting, in Scandinavia Engineering Physics is quite prestigious and many graduates end up as SWEs. In fact many researchers across Sweden hold Engineering Physics degrees in CS and other disciplines outside physics.
In Sweden I definitely observed this. I worked with quite a few SWE's who went to a technical university (LTH, Uppsala as primary examples) and held engineering physics degrees. From talking and working with people, though, I think it's because it's quite easy in Swedish technical university curricula to take SWE courses that count towards your degree. There is also quite much more of an applied engineering approach vs. theoretical than you would expect which might also play a role in this.