Via FreeWebspace, Welcome2Inter.net has this OpenVZ VPS for only €3.99 per month (around USD$5.87), and it comes with
- 64MB guaranteed memory
- 128MB burstable memory
- 1GB storage
- 1mbps unmetered bandwidth
- Debian, Fedora, CentOS, Gentoo, OpenSuSE, Ubuntu, or Slackware
Server is in Germany. We should expect more low end VPS from Europe as the unmetered bandwidth is so cheap there.
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I have two vps at welcome2inter.net
I can say that is the best vps company i know :)