Probably not. European team won gold medal last time in Barcelona (by winning with Poland in final, damn it!). From that time only two European teams play in final: Spain in Sydney and Germany in Rio. Do you know when last time there was two European teams in semifinals? Yes, you're right, in Barcelona After this: Atlanta - Portugal was 4th, Sydney - Spain with silver, Athens - Italy with bronze, Bejing - Belgium 4th, London - none European team in semis, Rio - Germany with silver. I think favorites should be from Americas, from 1996 there are always two teams from one or both Americas in semis and they won four last olympic tournaments (Argentina 2004 and 2008, Mexico 2012, Brazil 2016).