Why do you hate England so much? The teeth? The food? Is it the money? Is it the better players? Or is it the fact that the FA shoots down it's shining star with false allegations of cheating to favor the Argentine national team? Talk about ruing football.
Anyway, German clubs have a pretty short nationalization period, so they won't suffer to badly. Of course English clubs will suffer at the beginning. Arsenal, Chelsea and Pool will probably suffer right away, in order from most to least. The Mancs will prosper though as not much in their line up will change. Eventually I'm sure England will just introduce a naturalization policy of six months or bribe FIFA or whoever to "change" the rules.