In a worst case scenario, but football goes in cycles and Serie A is only barely trying to emerge from the crisis that was 2006. Teams really need to start taking the Europa League seriously though, the German sides find a balance, even if the Bundesliga doesn't quite have the all-importance that Serie A does to the domestic sides.
More needs to be done off the pitch before we start talking about players wanting to go elsewhere. Bayern are already a very big draw anyway, they are a massive club. After that you are looking at clubs like Hamburg and Dortmund who were strong at one time but are not European giants, and then the 'new money' teams of Schalke, Hoffenheim and Wolfsburg. There are three European giants in Serie A with good backing, and an equal supporting cast to the Bundesliga at least. Serie A really could do with a similar cash injection amongst the mid level teams but the Italian economy is weak. There is no Cirio or Parmalat, to lift teams like Lazio and Parma up to European contenders.