• We have updated our Community Code of Conduct. Please read through the new rules for the forum that are an integral part of Paradox Interactive’s User Agreement.
Since steam has removed the laucher try editing settings.cfg with notepad.

0 #LANGUAGE (0=english, 1 = french etc..)
1 #MUSIC (1 for on)
0 #WINDOWED MODE (1 for on)
europa.valkyrienet.com
1280 #Width
1024 #Height
0 # Disable intro

This would be default settings, but you can edit Width and Height to whatever your screen resolution is.
But try with these setting and then report the results.
 
Rename avi directory to avi_old and give it a ty. Binkplay is the likely the problem. It is easier to delete it than to make your machine accept it.