European or not, it should not say anything about the quality of a piano.
The quality comes from the manufacturer. If they don't do a good job, then the piano won't be good either. And I mean a steady good line of production.
I live in the Netherlands (next to Germany) and we have our fair share of European/German pianos, but even then, there are definitely a few between them that aren't so good.
Steinway....Hmmm. I havn't played one even though there are a few at a shop a good 60 minutes away from my home.
My teacher (he's from the same country as where Steinway was originaly made), tells me that he once played a Steinway with some friends and they had a real blast. The way he spoke was as if the Steinway was really good piano. I'm definitely going to need to play one once.
Anyways, screw brands, just go visit a random piano shop and play to your hearts contents until you find one. Most likely - as always with human psychologie - the only reason we think Steinway is really great is because it has been drilled into our heads by others. So when you do get to play on a Steinway and it blows your mind away, then you really want one and start to obsess about it (like I do). But when you play a bad Steinway you are thoroughly dissapointed and maybe think bad of the brand.
Like I said, brand says one thing, the way it is produced another.
Like a month orso ago I was ready to throw my upright away, but now that my hands are getting stronger and the tuner is coming along soon, I changed my mind. Well, maybe not since I will one day require 88 keys instead of 85 I think.....