Cool comparison. Spain would definitely be number 1 and England number 2. Tough choice for the rest but I would rate them like this. All 433 formation for fair comparison sake.
Spain - Casilias, Alves, Pique, Pepe, Marcelo, Busquets, Xavi, Iniesta, Messi, Higuain, Ronaldo
England - Cech, Sagna, Vidic, Terry, Cole, Yaya, Wilshere, Nasri, Silva, Dzeko, Aguero
Germany - Neuer, Utchida, Hummels, Subotic, Lahm, Luis Gustavo, Schweinsteinger, Goetze, Kagawa, Gomez, Robben
Italy - Handanovic, Maicon, Chiellini, Thiago Silva, Nagatomo, De Rossi, Hernanes, Sneijder, Di Natale, Cavani, Pato
France - Lloris, Azpilicueta, Sakho, Lovren, Cissokho, M'Vila, Martin, Pastore, Hazard, Sow, Bastos
Holland - Issakson, VDW, Vertonghen Douglas, Pieters, Elm, Eriksen, Janssen, Wijnaldum, Janko, Toivonen
Actually I think Germany would shade it as third. Much more of a solid team plus talents like Usami, Son HM, Muller, Ribery, Kroos, Huntelaar, Holtby, Marin etc not even included. But then again, Italy have as much talents to pick from as well (e.g. Ilicic, Hamsik, Cambiasso, Lucio, Ibra, Montolivo, Jovetic, Vidal, Lavezzi just to name a few) so its quite hard to seperate them. France team is pretty decent too. Did a Holland one for fun just to compare how far they have fallen away. Quite a piss poor team.
