PARIS, FRANCE - JUNE 27: Giorgio Chiellini of Italy celebrates scoring the opening goal with their team mates during their UEFA Euro 2016 round of 16 match between Italy and Spain at Stade de France on June 27, 2016 in Paris, France. (Photo by David Ramos/Getty Images)

Eight games, 19 goals, favourites emerge and tons of upsets and Euro 2016 shapes for the Quarter Finals. Let's take a look at the Winners and Losers from the Round of 16 Stage

Winners: Wales and Portugal

Portugal were incredibly lucky to be in the Round of 16 Stage in the first place, but even more luck would come their way as they knocked out the heavily fancied Croatia. It sums up tournament football perfectly. If you're not at your best on the day, then the consequences are very harsh. Portugal are now the only team left that finished third in their group as they prepare for Poland.

Wales' players celebrate after a 1-0 victory following the Euro 2016 round of sixteen football match Wales vs Northern Ireland, on June 25, 2016 at the Parc des Princes stadium in Paris. / AFP / DAMIEN MEYER        (Photo credit should read DAMIEN MEYER/AFP/Getty Images)
Wales' players celebrate after a 1-0 victory following the Euro 2016 round of sixteen football match Wales vs Northern Ireland, on June 25, 2016 at the Parc des Princes stadium in Paris. DAMIEN MEYER/AFP/Getty Images)

Wales went into their match with Northern Ireland as clear favourites, something their not accustomed to. It was a scrappy affair but Wales managed to progress to their second quarter final in a major tournament, having done so in the 1958 World Cup. To understand just how happy the Welsh are to be playing Belgium on Saturday morning, take a look at their celebration after England's loss to Iceland in the Round of 16.

(L-R) England's midfielder Dele Alli, England's defender Gary Cahill and England's goalkeeper Joe Hart react after the Euro 2016 round of 16 football match between England and Iceland at the Allianz Riviera stadium in Nice on June 27, 2016. / AFP / ANNE-CHRISTINE POUJOULAT        (Photo credit should read ANNE-CHRISTINE POUJOULAT/AFP/Getty Images)
(L-R) England's midfielder Dele Alli, England's defender Gary Cahill and England's goalkeeper Joe Hart react after the Euro 2016 round of 16 football match between England and Iceland at the Allianz Riviera stadium in Nice on June 27, 2016. ANNE-CHRISTINE POUJOULAT/AFP/Getty Images)

Losers: England and Spain

For me, the two biggest losers at this years Euros. Both teams were outplayed by their respective opponents and both managers have subsequently resigned from their positions with Del Bosque likely to announce his future in the coming days.

For England, we've seen it before. Failing to get out of their group in the 2014 World Cup should have ended Roy Hodgson's rein then and there. Surely they would be able to get pass Iceland, the underdogs of the tournament, surely. In typical England style, they give us hope they've turned a corner and then bang, they fall short of expectations yet again.

Spain has given so much to football in the past decade. They've changed the way we play football and have set the benchmark in global football. The signs were there two years ago, where they finished third in their World Cup group, but now its confirmed. Its the end of an era for Spain and coach Vicente Del Bosque. Antonio Conte masterminded a terrific win over the best footballing team we've seen in the modern game.

during the UEFA EURO 2016 round of 16 match between Hungary and Belgium at Stadium Municipal on June 26, 2016 in Toulouse, France.
during the UEFA EURO 2016 round of 16 match between Hungary and Belgium at Stadium Municipal on June 26, 2016 in Toulouse, France.

Winners: Germany and Belgium

France may be the favourites to the win the Euros, but Germany and Belgium are surely not far behind. After a hiccup against Italy, Belgium have been brilliant ever since, scoring eight goals in the last three games whilst conceding none. They boast a range of superstar players and are well ranked but if we doubted them after that first game, we surely don't now. They're on track for a semi-final berth.

Germany have continued from where they left off as World Champions, cruising through the group stages before comfortably ousting Slovakia 3-0. Germany claimed the World Cup in Brazil by playing compact, organised football and they're doing the same in France. Tricky matchup with Italy to come, but you'd expect the Germans to give much more than what Spain did.

Losers: France's Discipline

Whether you agree with the yellow card suspension rule in international tournaments or not, France will miss both N'Golo Kante and Adil Rami for their Quarter Final match with minnows Iceland and though unlikely, it could cost them.

France barely got past the Republic of Ireland, having to come from behind to win 2-1 and if it wasn't for a brilliant few minutes from Antoine Griezmann, France would of been knocked out. They'll need to deliver a much improved and discipline performance in order to beat Iceland who the tournament's biggest threat at the moment, its amazing when you've got nothing to lose.

Iceland's team members celebrate with their supporters after the Euro 2016 round of 16 football match between England and Iceland at the Allianz Riviera stadium in Nice on June 27, 2016. / AFP / ANNE-CHRISTINE POUJOULAT        (Photo credit should read ANNE-CHRISTINE POUJOULAT/AFP/Getty Images)
Iceland's team members celebrate with their supporters after the Euro 2016 round of 16 football match between England and Iceland at the Allianz Riviera stadium in Nice on June 27, 2016.  ANNE-CHRISTINE POUJOULAT/AFP/Getty Images

Winners: Iceland and Italy

Why we should criticise the performances of both Spain and England, Italy and Iceland are the biggest surprises of the tournament and its amazing how far both teams have come.

Italy pretty much lack any superstar players, but they have one of the best coaches going around in world football in the form of Antonio Conte who drills them to tactical perfection.

In Iceland's case, they're a mere speck in the world map and have more volcanoes than professional football players. Their manager is a part-time dentist and 10% of the country's  300,000 population is in France.

We love seeing underdogs emerge as winners and may it continue.