The Google Blog announced you ca now buy YouTube Promoted Video ads directly in the Google AdWords console. Google said that any advertiser with video content in the U.S., Canada, the U.K., France, Italy, Germany, Spain and the Netherlands can do this today.
Previously, all YouTube Promoted Video ads were managed on YouTube at ads.youtube.com. Opening up the management within the AdWords console will hopefully give the product more exposure to advertisers. I personally tried to find this in my AdWords account, but could not find it. So maybe the roll out has not hit all advertisers just yet.
Most recent news about this product was that Google enabled content powered YouTube ads.