Thanks for the replies.
I understand fully that easyJet are in business to make money, that goes without saying. However, that does not make this sort of behaviour acceptable. Cashing in on a quick buck for a one-off sporting event while screwing over existing, loyal customers is no way to run a business. After cancelling my flight easyJet offered me a cash refund or a voucher. Neither of these options get me to Munich. Lufthansa do have a flight on the same dates but over £200 in fare difference. Will easyJet pay the difference? I suspect not. Why should I be out of pocket while easyJet cashes in, at my expense?
Upon further investigation I can see easyJet do not normally fly between Liverpool and Paris however they do have flights out on 27 and 28 May, returning 29 May for a whopping £1,037.28 return. To make way for these flights, on Friday 27 May easyJet has cancelled flight EZY7253 from Liverpool to Krakow and flight EZY7195 from Liverpool to Faro.
Really disgusting behaviour from easyJet.