Good question! In my experience, "classical" has quite a few narrow definitions, usually relating to a specific period of time in the past. For example: classical music= European orchestral music from approximately 1750 to 1830. "classic" is a broader adjective meaning traditional, of recognised value etc. It is not used to describe something from a specific time period. One big difference between the two is that "classic" can be used as an adjective and a noun whereas "classical" can't. Anyway for this situation, I would say "European Classic Taste" is better, unless they are talking about food from a specific time period in the past!