Taking into account your needs, I'd recommend you to check 7host.com dedicated servers - it has DataCenter in Italy, Europe.
Generally 100% uptime, good pricing and professional service.
You will save 10% off the price with the code [DEDPROMO10]
I believe you should have more options to choose from. Take a look at services from Redswitches, reliable hosting provider with affordable prices and knowledgeable support, you won't regret of using them.
There are already many well-established web hosting firms nowadays that offer affordable web site hosting plans with excellent capacity and quality.
+ vote for ch-center.com web host.
Their customer support is great. Any ticket I've put in has resulted in a real e-mail response within 10-15 minutes. The responses are clear, informative, and not at all condescending.
Pricing is reasonable.
To my mind, aspnix.com would be the best place to get European Servers.
Their uptime is fantastic and ability to upgrade and downgrade is a plus.
Their Dedicated Servers support Microsoft Hyper-V virtualization and other virtual platforms.
Go ahead and deal with them.