I must admit that I have not been following the Net Neutrality campaign, mostly because I felt that it seemed like an American phenomenon, and also because I cannot explain it any better than a ninja.
The Communications Opportunity, Promotion and Enhancement Act (Cope Act) is a wide-ranging piece of legislation that deals with all sorts of telecommunications provisions ranging from VoIP to emergency services. A specific amendment to the bill was sought to include a net neutrality principle, which would enshrine it in American legislation.
Perhaps the markets will decide adequately, watch for ISP watch-dogs and switch if they violate neutrality. I cannot see this happening in Europe, but I’m often wrong about future predictions.