For those of you that have a VPS in Europe, you can also do this via ssh tunneling. (see lowendbox.com for European servers, all around or under $5/month)
I have a server in London which serves as a dev box & proxy/ssh tunneling.
If you need help setting up ssh tunnels, I made a quick guide here http://public.dwang.org/ssh. Of course, for the guides I made swap the given server name and usernames with yours.
