Mr Angry Those rankings show that England underachieved in Euro 2012; they should have got to the semi-finals.
Germany also under-achieved; they should have got to the final.
My German colleagues were utterly distraught at losing the semi; contrast that with the most of the press and England fans who were generally happy to simply get out of the qualifying group, ecstatic to have won that group and who gave the impression that losing the quarter-final on penalties trying to play like a non-league team against a Premier League team in an FA Cup match was somehow a success......
But we didn't under achieve with the players we had.
FIFA rankings are rubbish to read into because 95% of competitive games (qualifiers) should be little more than a formality. Under Capello, we have largely done well in the matches we should do well in (leave out USA and Algeria). If the likes of Italy qualify for major tournaments with a couple more slip ups and upsets along the way, we'll have a higher ranking. It definitely doesn't make us better and the quarter finals of major tournaments is probably about our level.