i have a search in google and i found this

BlueAdvertise is European company with base in Slovakia. BlueAdvertise is here to help you with monetizing your traffic with CPM and CPC adverts. There is many EU advertisers so most traffic is covered. For more information about the rates and special deals you can contact site support. The best part is that the CPM program pays realy for impressions of banners only, there are no popups or other disturbing material so it is surfer friendly.
But you are not paid only for impressions but also if there is click through (CPC model) so that is great combination for your website. Advertisers pay from $0.0125 per click and more, so if you would like to advertise here you are more than welcome.
they pay via paypal.this is a new program still.when i search in another search engine there are only 3 result.i think i wont try for there are some people are trying now already.