As far as I've heard, it's going to be like the HDD release in North America. You'll be getting the HDD bundled with FFXI, when the Chains of Promethia expansion is released. Europe will get the Rise of Zilart and Chains of Promethia expansions bundled free with FFXI, like North America got Rise of Zilart bundled free with the game.
I believe that it has been stated that Europe will be getting FFXI when CoP is released in Japan and NA on SquareEnix's PlayOnline website. SCEE has also seemed to indicate a PS2 version release then, so both PC and PS2 versions should release at the same time there.
My PlayStation2 HDD guide.
NTSC J SCPH 30000 with HDD and PSBBN 0.32
NTSC U/C SCPH 30001R Astral Blue LE PS2
Final Fantasy XI status:
Server - Ragnarok, Race - Mithra, Jobs - BLM 72 WHM 51 SCH 39 SMN 25, Nationality - Windurst, Name - Bungiefan