Sounds great, does it not? Unfortunately, there is no such tournament. There is, however, a European Seniors Team Chess Championship, which has started. From the website: (http://gamesfestival.chessdom.com/european-seniors-team-chess-championship-started)
The European Seniors Team Chess Championship is starting today in Thessaloniki - Olympus region, Greece. A total of 35 teams from 20 countries and 52 titled players participate, and among them many legends of chess.
Just today GM Nigel Davies writes on his excellent website (http://chessimprover.com/2011/05/04/chess-against-alzheimers/)
in a blog post titled, Chess Against Alzheimer’s: As this research has been around for a few years it amazes me is that chess federations around the World are not singing this from the rooftops. The costs of care for those with Alzheimer’s is staggering, an estimated 1% of global GDP which comes in at US 604 billion. So the mind boggles at how much could be saved if more people were to take up chess.
Yet the focus of chess in this country is geared totally toward scholastic chess. Go figure.