I have heard this to be true: A liberal in Europe would be considered a Conservative in Europe. A Conservative in the US would be labled a Fascist in Europe. A liberal in Europe (Socialist, laborite etc) would be considered a leftist in the US.
For instance, can anyone really tell me that Clinton was a liberal? Could a man like Bush have gotten elected in any European nation? Hell, he would be considered so far to the right that only a few neo-Nazis like LePenn could compare to him.