Reading the text, makes it quite plain why Europe can be so wonderful. This is not only the librarians making a statement, it is the European commissioner Mrs Neelie Kroes who backs this up politcally.
As practically all books are published in Europe and as the Google book scanning project operates in Europe as well, it is not only English books that will find their meta data on Europeana.
My favourite quote from the PDF:
It will mean that Wikipedia can use the metadata, linking it to all sorts of articles....Yes, we love Europeana, we would be thrilled to help the world find the way to the culture it promotes, our culture it promotes.