Most likely it will not for several reasons:
-The power requirements are different (though you can get an adapter or replace the power supply with one that accepts the lower voltage)
-The output format is different. The European will output PAL, while US TV's expect NTSC. Some TV tuner cards will accept both formats, so check your tuner card to see if it works with PAL inputs (or import one from Europe)
-The games have region lockout, so you would only be able to play European games on it, unless this was the purpose of getting the European model in the first place
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"Tongue tied and twisted, just an earth-bound misfit, I" - Pink Floyd
(and then the tower cleared me for take off)