The 2016 UEFA European Championships will definately not be hosted by Scotland and Wales after the SFA & the FAW decided that, in the current economic climate, a bid to host the Championships was not feasible.
While slightly disappointed, I understand the logic. Hosting an international event such as this is certainly expensive and places a large strain on the transport infrastructure which, if the experience of trying to get to Murrayfield on international rugby days is anything to go by, would undoubtedly require substantial investment to improve. The event would, however, have brought with it a huge boost to the economy - both locally and nationally - with football fans from across Europe piling into Scotland & Wales to support their side. That was weighed against the required spending on the tournament and was found to be not worth the investment.
Oh well, I guess we'll just have to qualify on merit then... I won't hold my breath.