The Quebec blackout on 13 March 1989, has made geomagnetically induced current (GIC) research a socially important field of study. It is widely recognized that the effects of space weather, which may affect the power infrastructure, threaten countries located at high latitudes. However, in recent years, various studies have shown that countries at lower latitudes may also be at risk. One of the best proxies of GIC variability is the local geoelectric field, as measured in Eskdalemuir, Lerwick, and Hartland, by the British Geological Survey or modeled using, e.g., a 1D layered Earth conductivity model. In our article, we present a review of the issues related to the impact of the GIC on transformers and transmission lines in Central and Southern European countries, from Greece, Spain, and Italy to Slovakia, the Czech Republic, Austria, and Poland. The review underlines the importance of the systematic collection of information about power grid failures and the need for further systematic studies of the GIC’s impact on the operation of power grids in mid-latitude countries.