Sixteen teams have been sent packing from France, with only eight left standing. Ben Clark casts an eye over the contenders for the continental crown
Poland
Grzegorz Krychowiak has been superb so far, dominating the midfield battle in every match and helping his side transition quickly from defence to attack
Why they will: Poland have the second-best defensive record after Germany, and have looked sturdy at the back despite operating with two strikers. They're also dangerous on the counter-attack and have plenty of creativity within their ranks, while Robert Lewandowski is one of the best centre-forwards around... even if he hasn't bothered the scorekeepers in France yet.
Why they won't: Poland have often been profligate in front of goal, with Arek Milik wasting key chances and Lewandowski yet to hit his stride.
Who they're relying on: Grzegorz Krychowiak has been superb so far, dominating the midfield battle in every match and helping his side transition quickly from defence to attack.
He might not be the same player he once was, but Ronaldo remains a world-class talent who can produce moments of magic from nothing
Why they will: They've got the best player at the tournament. This will be several key players' best remaining chance to win a tournament, with Ronny & Co. desperate for success.
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Why they won't: Their defence: Ricardo Carvalho is 38, Bruno Alves is 34, Pepe is 33 and both Eliseu and Jose Fonte are 32. Portugal have been far from convincing at the back up to now, with four goals conceded in four matches. They'll have to tighten up if they're to lift the trophy.
Who they're relying on: Who do you think? After poor performances against both Iceland and Austria, he managed to claw Portugal through to the knockout rounds with a brace against Hungary. He might not quite be the same player he once was, but the Real Madrid man remains a world-class talent who can produce moments of magic from nothing.
Belgium
They're also on the favourable side of the draw and will fancy their chances against either Portugal or Poland should they overcome Wales on Friday
Why they will: It’s about time this Belgium side fulfilled its potential. They seem to be getting stronger after a desperate start against Italy – three wins, eight goals scored and none conceded since then – while Eden Hazard was in imperious form against Hungary in the last 16. They're also on the favourable side of the draw and will fancy their chances against either Portugal or Poland should they overcome Wales on Friday.
Why they won't: Belgium could succumb under the pressure, just as they did at the World Cup two years ago. Manager Marc Wilmots isn't the best tactically, while the Red Devils still often look like a collection of individuals.
Who they're relying on: Kevin De Bruyne. The Manchester City playmaker has been sharp if not at his absolute best so far, but he has the talent and intelligence to be the difference-maker in the final third.
Wales
Knockout matches at this stage can be tense and nervous affairs; will Wales' lack of experience at this level cost them?
Why they will: Wales are soaking up every moment of the Euros this summer – and who can blame them? They've already surpassed expectations by making it this far, and Chris Coleman and his players will fear no one going forward. Gareth Bale is one of the best players left standing in the competition, and the Welsh have done well to find a system that gets the best out of him.
Why they won't: They have very few match-winners in the squad, which means Bale will be under even more pressure to deliver. Knockout matches at this stage can be tense and nervous affairs – and Wales's lack of experience at this level might cost them.
Who they're relying on: That boy Bale. He's proved decisive at the sharp end in every game so far and is one of the most feared attacking players on the continent.
Italy
Antonio Conte's men were magnificent in defeats of Belgium and Spain, with their lack of individual superstars proving more of a help than a hindrance
Why they will: Italy were touted by many as potential flops, but they've exceeded expectations and fully deserve their quarter-final spot. Antonio Conte's men were magnificent in defeats of Belgium and Spain, with their lack of individual superstars proving more of a help than a hindrance. Italy are a well-drilled unit whose strength lies in the collective, and they seem to be building momentum nicely.
Why they won't: Their lack of attacking firepower could be a stumbling block. Germany, who await them in the next round, still haven't conceded a goal in France and will prove tough to penetrate.
Who they're relying on: The boss. Antonio Conte might be able to claim a place on next year's Oscar nominees list after his parading down the touchline this summer. His energy and zest is replicated on the pitch, with every Italian player willing to run through brick walls for their manager.
Germany
The world champions, who have eased to victory in three of their four encounters, have one of the best goalkeepers in the world in Manuel Neuer and one of the best centre-backs in Jerome Boateng
Why they will: Germany have been the most convincing side at the Euros so far – and they look like they could go up a few notches yet. The world champions, who have eased to victory in three of their four encounters, have one of the best goalkeepers in the world in Manuel Neuer and one of the best centre-backs in Jerome Boateng, while Toni Kroos has been majestic in the centre of midfield. Mesut Ozil, Thomas Muller and Julian Draxler aren't bad, either.
Why they won't: Italy are Germany's bogey team, with Die Mannschaft having never defeated the Azzurri in tournament football. They'll have to make history to go through to the semi-finals.
Who they're relying on: Their backline still hasn't been breached, and whether or not they go all the way is likely to depend heavily on their defensive record. Germany are tough nuts to crack, with their attacking invention built on a strong foundation at the back.
France
Didier Deschamps has been able to leave Kingsley Coman and Anthony Martial on the bench for the most part, while Antoine Griezmann is hitting form at just the right time
Why they will: France triumphed the last two times they hosted an international tournament (World Cup 1998 and Euro 1984) and have the easiest – on paper at least – quarter-final draw. Their attack is perhaps the best in the competition: Didier Deschamps has been able to leave Kingsley Coman and Anthony Martial on the bench for the most part, while Antoine Griezmann is hitting form at just the right time. Oh, and they've got Dimitri Payet. Will that do?
Why they won't: Deschamps still seems unsure which system suits his team best, which is perhaps a consequence of the fact France hadn't played a single competitive game in two years before the Euros began.
Who they're relying on: Griezmann. He might be small but the Atletico Madrid forward packs a punch, as he demonstrated with a fine headed goal against the Republic of Ireland last time out. Griezmann got the hosts out of trouble in that encounter, as he did against Albania, and has the quality to do so again if the situation requires it.
Why they will: Why can’t Iceland win the Euros? With this kind of team spirit anything seems possible – just ask Leicester. Their fans create a ferocious atmosphere and, after Italy, they're probably the hardest team to knock down when they're holding onto a result. England fans will certainly feel better about themselves if the Nordic nation get even further.
Why they won't: Iceland have the least talented squad and, if their oppponents are sufficiently creative (i.e. better than England), they could be on the end of a heavy defeat before the tournament ends. Even if they somehow overcome hosts France, they'd then have to face Italy or Germany. They're on the wrong side of the draw and simply reaching the semi-final will be a mammoth task.
Who they're relying on: Mainly that supreme organisation of theirs, but also the fans. Everyone knows Iceland's tiny population by now, but it's still remarkable just how many supporters have flocked to France to cheer their team on. They've been the most orchestrated bunch at the tournament, too.
