He helped his country to a runner-up finish at Euro 2000, keeping three clean sheets, contributing to the elimination of both host nations (Belgium and the Netherlands) in the process. During the semi-final against hosts Netherlands, he saved one penalty in regulation time, and stopped two more in the successful shootout; he was named man of the match for his performance. In the final, Italy lost 2–1 to the reigning world champions France after a David Trezeguet golden goal in the 103rd minute; Italy had been leading 1–0, but Sylvain Wiltord equalised in the final minute of stoppage time to send the match into extra time. Toldo was named to the Team of the Tournament for his performances, also earning the third place in the IFFHS World's Best Goalkeeper Award. Following his successful European Championship campaign, Toldo played as a starter at the beginning of the 2002 FIFA World Cup qualifying campaign; however, after recovering from the aforementioned injury, Buffon was eventually confirmed by Giovanni Trapattoni as Italy's first-choice goalkeeper.