I was reading an article via email about the .eu price reduction as of 1/1/07. Apparently this is to cover both registration and renewal. I believe its suppose to be a 5 - 10 euro price reduction. If you would like to read more go to the IBLS .
Umm.... if you are referring to the .eu extension. But you need to read the article to see if the reduction will affect you are not. I believe its not an across the board thing with new domains with the .eu extenesions. You need to read the article a little further. But yes if you did try and register with godaddy an .eu and were denied one reason or another. There is a possibilty you may get the price reduction. But of course you have to be a citizen of the 16 EU states to get a .eu