IMO it is better to build sites like domain.co.uk and domain.de instead of creating a folder of that country name and translating content using Google translator.
The best way is the one that is suggested by seork but if you are using proper title, description and tags for pages, it might work for you. I have tried this previous and I had queit okay results but not that satisfactory…
It is possible to make different pages to target different countries. You need to add suitable title and url for each page and get the Google maps indicating the locality for each page. Also add address and telephone numbers in different pages pointing different regions.
Having said all these things it is highly appreciated to have different domains for different countries to target the regional traffic easily