Forum Moderators: open
Directories as opposed to integrated search engine/directories are not necessarily worth the advertising unless the directory is a niche interest one.
If you are going to target Europe, then it would be better to tailor the marketing plan on a country by country basis. Inclusion in these trades directories (paper/CD) could be useful but you have to look beyond Europages' website and consider it in these terms. The most important aspect is to get the distribution statistics on the usage of these paper/CD directories before you make any decision. If you are looking at a purely web based marketing plan then go for Google or the most used search engine in the particular country you wish to target. Harsh as it may sound, people tend to navigate the web by search engine now.
Regards...jmcc