teams (like Bolivia) regardless of how bad they are, while teams have to qualify for the Euros — so the Euros feature fewer bad/mediocre teams, even after expansion from 16 to 24 teams. However, this difference is mostly in the group stage. Once you get to the knockout stages, the gap narrows dramatically, and by the semifinals it is pretty much gone. Often, the semis and final of the Copa are better than the Euros, and feature better teams. This could well happen this year, as the Top 4 in the Copa (Argentina, Brazil, Uruguay, and Colombia) are at least as strong, and perhaps stronger, than the Top 4 in the Euros, and the Euros have a very unbalanced bracket, with all the best teams on one side of the draw, with the other half being much weaker.

Overall, the Euros are clearly the second-best international soccer tournament, and the Copa America is the third-best. I don't think almost anyone would disagree with this.