France gives massive tax cuts to game developers now, so expect some super studios to pop up there.
Crytek are considering moving, seeing as Germany hates computer games, and everything associated with them (whether this is because 6 out of 7 games involve killing Germans, I don't know).
Britain are planning something similar I believe, along with the construction of a Game School (like a Film School). Hopefully it will be sucessful.
It is incredibly annoying that we are one of the big three games producing countries, and we basically never produce games with a recognisably British quality (Japanese and US games are easily identifiable).
Europe is the killer market, we are the ones with all the disposable cash and a love of electronic entertainment, why Britain doesn't start making games specifically for Europe is beyond me. If I see another British game set in America, with American voice actors I will cry (shame on everyone - except you Lionhead have a gold star).
Fingers crossed for GTA IV: Fife.
-= Out here in the fields, I fight for my meals =-