Just like we have Asia Cup in cricket, should ICC consider hosting a Cricket Europe Cup in a T20I format once every 2 years? As we can see teams like Ireland, Scotland and Netherlands are really improving and taking interest in cricket, anything like that would be interesting. Maybe throw in a couple of associate teams as well and along with England it's a six teams tournament.
Also all these countries have nice stadiums, so we can have a good presentable tournament.
Now ofcourse England are going to be heavy favorites in the tournament, but you never know when the upsets take place. (More likely in T20I format). But it will give good exposure to other teams on international level, just like we have Afghanistan, UAE, Nepal and Hong Kong making their presence felt in the Asia Cup in recent times.
Asia Cup has a bit more to it given Bangladesh, India, Pakistan and Sri Lanka are all Test nations, as are Afghanistan. Across the two formats vast majority of participation is the first four, Afghans are fifth on the appearances list with FOUR
Hong Kong and UAE are not terrible sides either, by comparison you have in Europe England then quite a way behind still Ireland, then Scotland and Holland, only two of whom are Test nations and one of them fortunate to be one.
doubt it would generate huge interest other than a bit of rivalry being essentially the "UK and Ireland plus..." show and not a lot of money in it except games against England
going back to your assessment of participants in Asia Cup, making "presence felt" by UAE, Nepal and Hong Kong being to lose all their games in both ODI and T20i versions - P12 L12 in ODI version, P6 L6 in T20i version. unless of course you meant "making their presence felt" in that they were innit and other teams noticed, innit.
does of course expose a big flaw in your proposal, like Kenya faded after two decent World Cups because it was unsustainable and unrewarded, deshis getting invited into the fold in their stead, is whilst England, Ireland, Scotland and Holland might be regulars any (other) side that qualifies every now and then will do just that, occasional exposure to be whipping boys, it isn't the six nations and maybe if they made it seven nations (in rugby) the 7th side might be one side one year, another the next, another the year after that, won't establish a better infastructure no matter how much people theorise quick fix ideas might
might as well suggest if Messi played for Newport Pagnell that side would rise up the ranks and be competing with Man City inside a decade, except there would be an injection of excitement and boost of shirt sales and tickets for a fair while, but ONE signing no matter how big a name wouldn't propel them up with teams that were there for decades. Much like Wigan and Hull I think both rose through the divisions to the top flight then sank back into relative obscurity, I don't doubt if I researched they outspent many rivals down the divisions