I think Mario kart will come to Nintendo's rescue in Europe and really kickstart sales of the Wii u, when it finally arrives. I think Nintendo's problems in Europe are probably a combination of many things, most mentioned in this thread. Not having any dedicated company structure through whole swathes of the area doesn't help. It has been this way since the N64. At the time, the whole European operation went through Nintendo Germany, as they shut down the U.K. office. There has always been a suspicion Nintendo didn't care too much for Europe and i think the success of the Wii there sort of took the big N by surprise. Although they should have capitalised on that, they didn't and Nintendo Europe is still run exactly the same way afaik.
Another failure of Nintendo in Europe imo is the failure, through lack of advertising or whatever, is to get the Wii u out there, in the public's perception. I mean, i've had two people visit in the last month or so that didn't even know what the Wii u was. They never had that prob with the Wii. The world and his wife knew what that was.
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In my opinion the N64 was not just the best console of the 5th gen but, to this day the best console ever created!







