A lot of dental schools in Europe teach in their native language and in English. The native language programs usually have a lot of students, and the English programs a lot fewer (maybe like 40-50 people?). They are very cheap, in comparison to US schools (around $11,000 US per year or lower).
The further east you go, generally the cheaper it gets. It's 5 years of schooling (meant for recent high-school grads) and a lot of them grant a DMD, I believe. Some schools that I know of that have dental schools teaching in English (other than the obvious: England, Ireland, Scotland):
Charles University in Prague, Czech Republic
Comenius University in Bratislava, Slovakia
Semmelweis University in Budapest, Hungary
Debrecen University in Debrecen, Hungary
Poznan University in Poznan, Poland
Szczecin University in Szcecin (Stettin, to Germans), Poland
University of Lodz in Lodz, Poland
University of Wroclaw in Wroclaw, Poland
I'm assuming that regarding licensure, recognition within the EU is similar to medicine. If you attend a dental school in an EU country, your degree should be valid in all EU countries. With that being said, if you are 100% sure you want to practice in Europe (maybe you grew up there or something), going to school there isn't a bad idea. It's much cheaper, and you know your degree is valid.
Sorry, I don't know which countries recognize a US degree as equivelant.