I agree that Xbox One might be able to win the US, but everything else seems very unlikely. Unlike US-americans and japanese (who are clearly biased towards their "local" brands), europeans are not at risk of being influenced by "patriotic sentiments" when buying video game consoles, as neither Sony nor Microsoft are european companies. They will simply buy the best product - which is why they chose PS2 over Xbox, PS3 over Xbox 360, and now PS4 over Xbox One.
Sure, Microsoft can easily drop the price of the Xbox One. And they'll soon do, considering how clear PS4 is currently winning against Xbox One. But Sony can drop prices too - and if a Xbox One price cut should really turn the situation around, they will.