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There is Hetzner.de which I like quite a bit as a company. I have been hosting with them for 3 years. They have a 512box for 6.5 EUR if you are exempt from taxes like a Non-EU citizen .

The $10 VPS solutions I see out there are either in a European country, or are startup/smaller shops that don't have a proven track record.

Just don't try to use EFnet or QuakeNet from them.

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