There is a genuine sense of anticipation ahead of Euro 2004 that it could provide one of the best tournaments for many years. The quality of the participants, the likely weather, the scheduling and the excellent stadiums all suggest European football could enjoy quite a celebration.

The World Cup has tended to overshadow its European cousin, but this time, with the possible exception of Argentina and Brazil, it contains the majority of the best sides in the world game. It resembles the business end of the World Cup, as the latter competition is hamstrung by the fact that it must go through some housekeeping to weed out the weaker teams.

Euro 2004 starts with all bar a couple of teams having realistic ambitions of making the knockout stages of the tournament. That in itself adds to the appeal, the fact that the list of potential champions is not confined to a couple of teams. It certainly promises to be a considerable step up on the last championships, jointly hosted by Holland and Belgium.

There was, as it transpires, a misguided apprehension that the stadiums mightn't be ready in time or that the infrastructure wouldn't be good enough, but the Portuguese have certainly delivered their end of the bargain off the pitch.

The host nation carries huge expectation, not just from supporters but within the squad as well. They are capable of some wonderful football, but therein lies an Achilles heel as well: Portugal aren't content unless they score goals of great aesthetic quality. You know the type, 15 passes, beating defenders a couple of times and then an exquisite finish.

They have some hugely gifted players but will require a slight shift in attitude. There are times when you have to be happy to win ugly, because victory is the only commodity that matters. The Germans and Italians have elevated this to an art form.

Portugal find themselves pitched alongside their Iberian neighbours and main rivals for the group, Spain. Greece and Russia make up the numbers. The Spaniards have yet to find a system that can incorporate the talent of Raul. It's easy to spot the discrepancy in his performances at club level for Real Madrid and those in the national jersey.

That they can leave out a player of Juan Antonio Reyes's ability suggests the squad must be laden with quality. They don't seem to have found a partner for Raul and may have to rely on the sum of the parts rather than great individual brilliance to survive.

If France get it right then the rest can all go home. There are chinks, though, that should give the others a glimmer of hope. French manager Jacques Santini has already accepted the Spurs job and that may prove a little bit of a distraction. He's also not shown that he's prepared to tackle the Marcel Desailly problem head on.

Santini won't have to pick up any fallout from these championships because he's moving to the Premiership. He may get out of the Desailly conundrum by claiming that the player is not fit enough for the opening game against England and then hope that whomever he chooses to replace Desailly in that game plays well and can't be dropped.

France have two players for every position and all are comfortable on the ball. If their major stars hit the high notes then they look untouchable.

I'd be optimistic about England's chances, whether they play the 4-4-2 or diamond formation. They do have a tendency to be inconsistent - not principally from one match to the next but within the same game.

Having said that, they will be difficult to beat and in Michael Owen and Wayne Rooney they have the second-best strike-force in the tournament behind France's. I don't think their opening clash against the French is as important as many people would argue. They certainly possess the wherewithal to beat both Switzerland and Croatia.

I have invested a little financially in Holland and will be hoping that the powers that be ensure that the crusts have been cut off the sandwiches as specified by the players. I'm only half-joking. The Dutch have a ruinous tendency to implode, with a row/split/argument only just around the corner.

But they have the same quality that France possess, a depth of talent within the squad, and if Dick Advocaat can get his team pulling in the same direction then they're a match for anyone. I'd totally disregard their build-up to the tournament; they'll be a different animal when thrown into the cut and thrust of tournament fare.

The Czech Republic are definite dark horses. They know their starting XI and that's a huge bonus for any team. They had an injury-free qualification for the tournament and arrive in rude good health. The only problem I see is that expectation doesn't sit well on this nation and they may find themselves a little awed in the company.

Germany are a shadow of their former glory, and while that was said prior to 2002 when the team got to the World Cup final, they have disimproved since then. They traditionally had four or five world-class players, but that isn't the case any more. Some of their more established internationals are tumbling down the hill on the far side, while Michael Ballack can't be expected to carry this team.

Latvia may as well bring plenty of buckets and spades.

Italy look strong favourites in a group that contains Denmark, Sweden and Bulgaria. The one thing that you can count on is that the Italians will be defensively strong, and while they might not have as many stellar contributors as they had in the past they are starting from a solid foundation.

The Swedes are big on work ethic and will have been buoyed by the return of Henrik Larsson. Denmark are a hard-working side that lacks flair, while Bulgaria don't appear to have the ability to trouble the bigger teams. It'll be a competitive group though.

This could be a huge tournament for young players like Rooney and Spain's Joaquim, but, in terms of the silverware, it is France's to lose in what should be a very entertaining competition.