The tournament is called the European Championships or Euro2008. The term European Cup usually refers to the club (rather than national team) competition which Manchester United won last month.
In the middle of July, the pre-season friendlies begin and are televised, So you have got a football free fortnight at the beginning of July.
if you attended Mr Gromit's classes, I am sure he would have only been to pleased to correct you on the fact that those bunch of guys you refer to, only run around for 1hour & 30 minutes, not 2 hours.
Apart from that, I totally agree with the rest of your post.