I partially agree: If forced to go with a single base, I would place it somewhere around SE Europe (or maybe still India?).
But in my game, I decided to immediately build a second base (and I think this was a good idea). Now Europe is not good anymore, since on the one hand it's too distant from America and on the other hand it is to close to justify the placement of the second base in America.
In my 2-base layout, the coverage of Europe is mainly done by the Newfoundland position (this is the island in the very east of Canada), but it can also be accessed from the Sri Lanka (think India) base, in particular the SW parts.
The first base went to Newfoundland since it it more expensive to build there and you get the first base for free. Without the money argument, I would have chosen Sri Lanka as the first base, for better early coverage of "hot" regions.