Alright, since there are over 250 stars in my galaxy of lately I have now gained the right to name a colony.
Here are some thoughts on possible channels for you to toss around after the jump:

Germany
The obvious choice being german, yet not the best one in my eyes.
Even though there is already quite a bit of suitable content for such a channel on the sift I still think it is too much of a niche thing. While it works fine for Canada or "british", opening a country dedicated channel seems to have very limited potential, especially when the continent does not even have its own channel yet. Which brings us to:

Europe
would compliment Asia nicely, but where "Germany" is too detailed, "Europe" is too vague for my taste. Throwing it all in one big list would not do justice to the cultural diversity that makes this part of the planet so special. It might just become an easy way to generalize.

Australiana
Would like to see this very much, as I love the place very much.
Has the upside of covering a whole continent/region as well, rather than just a country. NZ and Oceania would be allowed in too. Room for lots of Chaser Clips, Shark attacks, Haka Dances and koalasnakespiderycrocs.

Tongues
Celebrating languages worldwide. Spoken or written. Especially suitable for the many non english audio clips on the sift. Also fits for English Language as an artform, such as poetry, or where Standup does not apply. Singing backwards, that sort of thing.

Design
Focusing on the beauty rather than the engineering side. Graphic Design, Product Design, Furniture, Gadgets, you get the idea.
Could become a bit messy though because its impossible to judge what others find beautiful.
Problem: I do not know the first thing about webdesign and a poorly crafted design site would probably just implode

Meme
From Rickrolling to lightsaber duels to critters with acting skills.
Would be a nice twist to the more commercial viral channel which has "intended memes". Clips would most likely have to be added into this channel later, as clips would only become memes after a while. Especially when you think of how quick this community posts clips way before the meme tag could be used.

So far Australiana and Tongues are my favourites, with Meme a close third but I will definitely take your ideas into consideration and I am looking forward to hearing what you think.

---

Some more channel ideas, just for the sake of draining my brain and maybe starting some ideas for the future diamonds:
(Eklek also posted a great list a while back over here: http://www.videosift.com/talk/Channel-Ideas#comment-338412)

Prank
might open the floodgates of clips where idiots knock themselves or each other out

Geography
bit more scientific than Travel

Future
Would clips have to go once tomorrow becomes today?

FX
Definitely need one of those. Celebrating the art of eye trickery and visual whoa

Skill
like wtf without eia. Humans, animals, robots: all can play

Motors
Surprised this has not been created yet. Hotrods, Oil and Racing must surely turn some of you on. It´s not my world though.

One more thing at the end:
I also think we should extend the possible channels assignments to more than 5. Not sure where to cap it, but we have to find a way to be more specific with channels as the choices grow.