On 11 November 1999 Panico scored a notable hat-trick against Germany in a 4–4 2001 UEFA Women's Championship qualification draw. At the final tournament, player of the match Panico scored twice in Italy's opening 2–1 win over Denmark at the Waldstadion in Aalen. The Italians narrowly failed to qualify from the group after a 1–1 draw with Norway and a 2–0 defeat by France.