Pancaro's Euro regret
The talented Milan defender has been told he will need surgery on his injured Achilles and has no chance of being fit in time for the summer's showpiece event.
Pancaro has explored all avenues in a bid to avoid surgery on his Achilles, but the club's medical team have decided it is the only option.
"We have tried every way to avoid surgery," he said. "But after 20 days of rest the doctors have discovered no improvements. So, much to my regret, we have opted for surgery.
"I'll be forced to miss the European Championship, but I'll be back next season.
"Of course I'll miss such a beautiful and important competition as Euro 2004 and I regret it very much, also because I was forced out of a World Cup due to injury.
"However, such things can happen and some comfort comes from the Scudetto victory. A triumph which cancels my bitterness.
"As for the European Championship, I'll support my team-mates from home."