Top US MBA to PhD in EU

[an study]

Hi all,

I'm looking for advice on what's next for my career.

I studied high school in Lima, Peru, then got a full tennis scholarship in the US where I doubled major in Econ/finance and political economy with a 3.9 GPA. Then worked in financial planning and analysis mostly in media/publishing  companies (top firms) which let me learn a ton about digital and offline marketing  while getting my part time MBA at NYU (at the time #1 ranked for part time MBA). The thing is I graduated with a 2.9 GPA because I took classes way beyond my comfort zone like futures and options pricing and other finance classes that weren't even in my field. Anyway, I also didn't take any Econ classes since I aced them in undergrad and wanted to use those credits towards new topics. 

After 10 years of work experience in New York I moved to Peru and will work in fin planning at a bank while saving money for the future studies. 

1) Id love to study economic development in Europe, would that be too much of a stretch given my work experience and MBA GPA? For instance LES only accepts GPA  3.5 or higher.

2) I see PhD programs in EU include a masters, is that too repetitive for when you already have an MBA?

3) what can I do in the next year to prepare for the application?

4) any suggestions for good schools that would accept my MBA GPA? Preferably I'd like to study in the UK or Germany but open to other cities of the school is good. 

Any other thoughts? 

Thank you!!!