Surfing is my one great love. I've been living in Germany and the UK for the last 3 years though, so I'm constantly pining for waves. I have, however, come across a few decent surf spots in Europe when I get time off. In one word: Portugal. You get solid Atlantic swell and when I was there it seemed as though it was always blowing offshore, all day long. Found a great little spot down in the Algarve. The coast is similar to parts of the NSW coast. The beaches aren't quite as white and sandy, but they have eucalypts everywhere so it feels a lot like home. It's a great spot for a holiday, even if you don't surf, as the food is great and the lifestyle very laid back. Much quieter than Italy and Spain too.
The European surf scene is quite something though. Each morning you go down to the car park to check the surf and you are surrounded by 30-40 year old German blokes who dress like 12 year old surf rats back home. I was the only bloke there not decked out head to toe in Billabong gear (including massive sunnies, skate shoes and mandatory cap, pushed up and slightly sideways, Corey Delaney style). None of them can surf really well, but they love to look the part.