WiFi will work with any iPad anywhere in the world. But you will not be able to connect to a CDMA network with the Verizon portion of your iPad here in Europe. We just don't do CDMA. Wifi is very separate from the carrier wireless of your iPad and has nothing to do with whether it is Verizon or not...
So, in other words, you must always be in range and connected to a wifi hotspot to be on-line with your device over here.
Hope that helps.