No, sir, they do not, I don't believe - not like the Glock, if that is what you're calling a 'European grip'. Which one(s)? Are you talking current production, or old stuff that is no longer made (for good reason).
If you get into measurements, the M&P, XD, CZ75, BHP, and the vast majority of the others are far, FAR closer to 1911 than they are to glock - we can get out the protractors if you like! THAT's 'WTF', since you asked!
Taurus and Walther (both of which you named) both make guns with European grips - as does Sig, Steyr, HK, FN, S&W, Ruger, etc... I'd wager that the M&P is in-between (as are several others that aren't quite as drastic as the Glock).
Aside from actual 1911s, the majority of handguns made have a slightly more swept grip than the 1911 does.
Colt has a much worse price-point than Taurus as far as what you get for what you pay (keep in mind that Colt has had a crap-ton of recalls in recent times).
Taurus doesn't have a better fit/finish than any of the other guns listed in this thread (save the Hi-Point). They do a good job for the most part, but miss a lot of little things.
Lets not forget reliability (in my opinion, of of the major reasons to own a handgun). Glock gives you much higher reliability than Taurus for not a lot of extra money.
With Taurus the general logic goes: the good ones are loved by their owners and will usually give you little if any problems. The bad ones suck badly and you'll never get them to work right - but its a crap-shoot on several of their more problematic models.
I owned a 24-7 and loved it. Never had a problem with more than a few hundred rounds through it, but the fact is, they're not proven in the world of hard-usage guns like Glocks and several others are - there's a reason for that.