Germany and Spain look a class apart. On paper Spain have the best players and the big tournament pedigree. Have to say as good Llorente, Navas, Pedro et al are though, the loss of Villa is huge. Without him they probably wouldn't have won the world cup, he was that important. The question is should the two meet, can Germany get enough of the ball to allow they're dynamic attacking play to flourish?
Holland obviously warrant respect but can't help feeling they peaked in the World Cup. They also have the Van Persie/Huntelaar question to resolve.
France are dark horses with a good nucleus of young players and a good draw. I fancy them for the semi finals where Spain might have too much know how. The only other team worth a mention are Italy. Qualified strongly and you'd be crazy to rule any Italy side out of a tournament.