6 main players:
Portugal - combination of excellent home-based players (Costinha, Paulo Ferreira, Jorge Costa) and Euro-stars (Rui, Figo, Sergio Conceio, Pedro Pauleta, Hlder) should make them a formidable force, especially at home. My favourite international team.
France - IMO most formidable team on paper, one of most consistent (in qualifiers for Euro 2004) and exciting to watch.
Italy - Their turn for another major trophy. Have alot of young talent to showcase (Cassano, Gilardino, Miccoli, Bonera, de Rossi etc.) and are strong in every department; defence (Nesta-Canna), holding midfield (Perrotta, Gattuso, Zanetti), attacking midfield (del Piero, Totti, Fiore), width (Zambro, Camoranesi) and striking (Pippo Inzaghi, Bobo Vieri, Di Vaio, Bazzani). Virtually flawless, although Trap could be their liability.
Holland - a team perhaps too skilled for their own good. Defence is only problem, IMO Stam being the only really reliable defender. Usual midfield (Seedorf, Davids, Overmars .. ) and forwards (Makaay, Hasselbaink, v.Nistelrooy, Kluivert) will have a tough time keeping their places while youngsters like van der Vaart, van der Meyde, van Persie, Ooijer, Sneijder .. continue to emerge from the youth academies in Amsterdam and Eindhoven.
England - have Lampard, Cole, Terry, and the Jermaines to name a few young players to mature recently and become regulars for the first team. However i dont think they have the firepower to trouble the continental sides.
Spain - their style of football mirrors that of La Liga - out and out attacking. Puyol probably the only defender of note, otherwise their strenth is in the midfield (Valeron, Mendieta, Gerard, Xavi, Albelda, Baraja, Joaquin.. and youngster Reyes (wing)) and up front, Raul and Tristan should be first choice 2, with Morientes and Luque backing up.