I'd just like to add in the reason our overseas friends get their games late.
There are a few reasons.
1. Companies want to show the highest possible first week sales. Because most of Europe counts week sales on Thursday, they get the games on Friday. But in the US and Canada, week sales are counted on Monday, so games are realized on Tuesday. This is the reason why even developers based in Europe (Such as Bohemia) take longer to release their games in Europe.
2. Retail stores. Developers want to please retailers as much as possible so that their game gets sold and they make more money. If the game gets released worldwide on Steam before retail shipments arrive, European retailers, such as Gamestation, wouldn't make as much money, and would refuse to sell any of the developer's games, which means less money for the developer.
3. In cases where games take months or years to be released worldwide, it's because of language translating. For example, most Japanese games get released in the US and Canada about a year after after their Japanese release, due to translation. In a few cases, it takes even more time for a European port, depending on whether or not they want to support French, German etc, or just English.
Edit: Another reason is that some companies don't see Europe as a large market for video games, and wait months or ever years before finally making a Euro version.
Edit 2: Even more reasons! Some games take a while to conform to rating standards (I'm looking at you, Australia)