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1.
Rather derogative term coined by U.S. Secretary of War Donald Rumsfeld to piss off those Europeans who didn't want to go to war with Iraq.

Didn't work out well, Rummy's shot eventually backfired; as Europeans now see the description with pride as they don't have to go with anything fucking America says.
Jesusland inhabitant: Where ya from?
Old European: Old Europe and proud of it!
by MasterJoe August 13, 2006
 
2.
it means that they hate jews
....dirty old europe
by eat shit October 27, 2004