The European market is really different that in the U.S. The only way I can think to compare it is if each state (Florida, Georgia, Tennessee, etc.) had its own label. The label will want you to stay in that state and keep you tied down there. I would never tell a band to sign a deal in Europe for the most part.
As far as band's making it in the States after being huge anywhere else, the record buying public is fickle. Good Luck.