Lotus are bring out the europa name back with the "Europa S" basically it looks like a more upmarket exige.
however if you prefer the old style europe then look at http://www.banks-europa.co.uk this is company that is making a re-engineered version. Vauxhall 2.0l engine with 240bhp 0-60 in 5.2 secs.
Initally the engine for the orginal europa was going to be from the ford anglia 105E, but the cost of mating it to a suitable transmission was its undoing. They then went with renault with a longitudinal 1.5l 82bhp.
Even with a small amount of power the europa was quick, due to being light 600kg and a Cd 0.29.
The renault engine was replace after 3 years with a ford twin cam 105 bhp and then a big valve 126bhp version came out a year later.