Captain Steven Gerrard told ITV's Gabriel Clarke that England didn't reach the necessary standard in their defeat to Italy in the quarter-finals.
"We lacked a bit of quality at times, but you can't fault the lads for effort and commitment, but that only gets you so far.
"I think we've played some good stuff and had a really good team spirit and now we just need to break that quarter-final hoodoo."
The skipper sympathised with both Ashley Young and Ashley Cole who missed decisive spot-kicks.
"I've been there, and I know exactly what they're going through, and it's not nice, but that's football," said Gerrard.
Gerrard stated he would continue to make himself available to manager Roy Hodgson for the 2014 World Cup qualifying campaign.
"If he [Hodgson] wants me around, I'll be around."