In the UK/Europe, green means go and red means stop, without the above exceptions. In order to make this work, pedestrian crossings are often segmented, with individual signals for each section. There are a few junctions where all traffic is stopped for pedestrians, but that is pretty rare. Most junctions just allow pedestrians to cross on sections where traffic is not travelling.
UK/Europe also has a lot fewer crossroads than US. Since the cities are older, and do not as often have a grid structure, there are a lot more three-way junctions than crossroads, which actually makes crossing the road easier.
[0]: http://ntl.bts.gov/lib/25000/25600/25603/DOT-HS-806-182.pdf
This varies by location. For example: In NYS it's allowed unless banned by a sign, but in NYC it's banned unless allowed by a sign.
The most "famous" example in Europe of all traffic being stopped at once, I suspect is Oxford Circus in London, where they changed to start doing this a few years ago.
The reason to do it there, though, was to allow pedestrians to walk in any direction (diagonally as well) across one of the busiest crossings in the country. This BBC article refers to it as a "Japanese-styled system":
There are also plenty of junctions where some car drivers are allowed to proceed while on other bits of the road, pedestrians are allowed to cross. So (typically) each road into the junction has a central island and the pedestrian controls for each half of the road are separate. On those junctions, it's never safe to go across the middle as there will always be some traffic moving.
There are two okay solutions - either you desync the lights, so that there's some gap where the pedestrians have a red light but cars already/still have green, so that they can make that turn; or you make a 3-phase crossing; A-cars have green in one direction; B-cars have green in the other direction; C-all cars stop and pedestrians can cross across and diagonally. It works okay.
What's not a solution - 'right turn on red' doesn't solve it; this problem matters in heavy car/foot traffic, and in such traffic there aren't any safe opportunities to do so.