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Of course it's not as big... First, I'm not sure how many literate people Europe has and how many literate people the US, but at least in the US, it's primarily all in one language. In Europe, the amount of people available are also splintered over the various languages and countries, all with different rules and regulations...
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Hey, we're just as literate as you are !
One of the problem with E-book in europe, weel; All the e-book i bought are in english. The offer in french is poor. So basicly,you'll have a real hard time finding the book you want unless you speak english.
Publishers are waiting for reders to take off, and readers won't take off until the publishers sells e-books. See the problem ?