The anime adaptation of
Quote Originally Posted by Anime News Network
MANGA: Hetalia - Axis Powers
Genres: comedy
Themes: World War II
Plot Summary: Italy, once home of the strongest empire in the world, has changed. This is the story of Italy, now a cowardly pasta-loving fool, and his friends (other personified countries of the world) as they live through strange moments in world history.
Yes, that's correct folks. This anime (<Yukimura> "...basically a webcomic-turned-manga-turned-anime about the world's countries turned into bishonen and left to play out World History") is a comedy about world history, based somewhat largely on satirical characterizations of countries from around the WWII era.

The first episode is subbed by GG
GG - Hetalia Axis Powers - Episode 01 - Webcast

It is a webcast (meaning low quality, because of the sub-story that is the real reason I'm bothering to make a post about this show: Korea's furious reaction towards the show that has resulted in it being pulled from Japanese TV stations.

Basically, from what I'm hearing, Korea get all upset about how its country was portrayed in the show (although that character doesn't appear in the first episode at least) and brought some wicked heat towards Japan about it. The issue was even raised in official government meetings of the South Korean federal government. In turn, the Japanese network airing the show decided to cancel it, although web/mobile phone broadcasters are saying they'll air it.

So, what the fuck? A ridiculously silly (if not a little irreverant) yaoi fangirl's dream come reality about poorly drawn bishounen earns the wrath of a nation and pressures it off the air? Have these Koreans even seen shows like South Park or Family Guy? Could this possibly be the best thing ever for Axis Powers' popularity?

Wikipedia says
ANN reports
Korean Protests Call for Anime Cancellation
Japanese Station Cancels Hetalia Run
Some rather biased coverage:

Actually, I'll say that the first episode was pretty entertaining in some regards. It surely is silly, and there's too many characters all at once, but, hey, that's the world in a way. Some of the jokes in the first scene were both pretty cleverly delivered and funny.

[00:18] <masamune> this is almost actually keen political commentary
[00:18] <masamune> wrapped in low-budget, yaoi fan catering bishounen
[00:19] <masamune> it's like reverse inverse parallel Zetsubou sensei
[00:19] <masamune> Reversed appeal / presentation. Inverse scope (the world and not Japan), but the same kind of deal
[00:27] <masamune> the 'chibi' section actually does good show with the more recent history of Italy
[00:27] <masamune> which is basically becoming enamored with its ancient glory and cultural prowess and becoming the bitch of wave after wave of invader