Just found this great research about European broadcast levels:
http://loudness.hku.nl/Peak_and_LKFS_-_Grimm_ea.pdf
They have actually measured 50 TV stations peak, PPM and LKFS, and the results are very interesting. There are differences in loudness of up to 16dB from the loudest to the softest station
Some stations limit their program so that their dynamic range is sqashed to 9dB (between LKFS and true peak), while some leave it so that it sometimes reads 20dB of difference. And I actually thought Europe was 'OK' compared to North America.... If you don't want to read the entire article, scroll to the bottom, there are some color graphs
They recommend peak level of -5dBFS, and loudness of -21LKFS, because that would require the least amount of change in most brodcasters. On the other hand, the official EBU P/LOUD group suggests -1dBFS /-24LKFS:
Main Page - EBU Wiki - Technical - P/LOUD