There are 5 Europe levels to complete and they aren't accessible until first completing all of the USA levels. It doesn't matter how quickly or slowly you complete the levels as long as you complete them without skipping forward (or "chickening out") using the RB.
If you are going for Gold, here are the times you will have to beat:
Level 1: 01:30
Level 2: 01:20
Level 3: 01:25
Level 4: 01:20
Level 5: 01:55
Note: When going for Gold it is important to remember to to sprint (LT or RT) as much as possible, but be careful because if you sprint too long you will fall over. The game will warn you of this with a silly noise and a vibration.