Yep. Pretty much that easy. Depending on what you use for the VPN (ASA's are good), you can enable QoS through the VPN.
You'll also want to consider how inbound calls to the "local" European office are handled. Don't want anyone to have to call the US to reach the office down the street and pay international toll charges. You're going to need some kind of voice gateway in Europe, no question about it. The Call Manager can then control both the US and the European gateways and route calls accordingly.