In France, we have a bed story for children related to exactly that: "Pierre et le loup" (aka your "crying wolf").
It may be a EU wide tale.
It’s a common tale in English speaking world as well, but we don’t use it as a bedtime story because of the ending.
Edit. Didn’t realize it might just be an English version where the boy is killed and eaten. Aesop’s original didn’t have that. Just the sheep killed.
It's one of Aesop's fables, so it's probably widely known in all of Europe.