I know this topic has been discussed extensively for previous versions of FM, but did not find anything on FM08 (I just did a simple search though...)
So in my first season:
Champion's League final: Man Utd-Chelsea
European Championship winner: England
So ok, English clubs are good and a Man Utd-Chelsea final could happen indeed...Can't say the same about the national team, can you?
I mean, apoligies to all English readers, but when was the last time, the national team won anything?
I will monitor what happens in the second season... So far, I find it a bit amusing. I suspect I'll find it a bit less amusing when my non-English team gets trashed against Fulham or Everton if my next European campaign