Holland and Italy are good enough to compete. But in order to make it more interesting, I came up with the EU team. Netherlands/Antilles connection can bring a lot of talents to EU, Andru Jones, Randy Simon and Sydny Ponson to name a few.
Dutch Major League's level is high. Dutch team had beaten Cuba at Sydney Olympics 2000. And there is a pro league also in Italy.

Team Evaluation......B
  Expected Line-up Substitutes
LF Claudio Liverziani Dirk van't Klooster 
CF Gene Kingsale  
1B Randall Simon  
RF Andruw Jones  
DH Brian Lesher Daniele Frignani
C Chairon Isenia Christopher Madonna
2B Evert-Jan't Hoen  
SS Ralph Milliard  
3B Ivanon Coffie Vince Rooi
P Sidney Ponson Jason Simontacchi Rob Cordemans
European Union
WORLD CUP Candidates
European Union TM PS NATIONALITY 2003 stats Birth Comments
Pitcher            
Daniel Newman Bologna SP Italy 10-4 4.45(Bol) 1964  MVP for Europe Championship in 1999
Eelco Jansen Neptunus SP Netherlands 11-2 1.40(Nep) 1969   Most wins in Dutch ML 2002
Samuel Meurant Tornado's SP France 7-4-2S (Tornado's) 1972 Ace of France playing in Italian ML
Jason Simontacchi STL SP Italy 9-5 5.56 1973 Born in US but played for Italy in the '00 Olympic
Radhames Dijkhoff Unknown SP Netherlands N/A 1974 LHP Played for Baltimore's minor once
Rob Cordemans Neptunus SP Netherlands 12-1 0.93 (Nep) 1974 Best pitcher of Dutch MLB
Calvin Maduro Unknown SP Aruba N/A 1974 5 wins in 2001MLB
Michiel van Kampen HCAW RP Netherlands 4S(HCAW) 1976 Most saves in Dutch ML 2002
Sidney Ponson BAL SP Aruba 17-12 3.75 1976 RH Ace of Baltimore
Will Ohman
CHC RP Germany No MLB appearance 1977 Went through surgery in 2002
Fabio Milano

Bologna

RP Italy 3-1-7 1.12(Bologna) 1977 Closer of Italian Major League
Ferenc Jongejan CHC SP Netherlands 2-1 5.59 (AAA) 1978 LHP
Steve Kent FLA RP Germany 4-5 5.37(AA) 1978 '02 rookie year appeared in 34 MLB games LHP
Patrick Beljaards Kinheim  SP Netherlands 1.63(Kin) 1978 Most wins in Dutch ML 2002
Diegomar Markwell TOR SP Netherlands 5-7 7.12(AA) 1980 Toronto's 40 man roster LHP
Rolando Cretis Bologna SP Italy 13-2 2.81(Bologna)    Most wins in Italian ML 2003
Catchers            
Johnny Balentina Tornado's C Curacao .331(Tornado's) 1971 Member of Dutch national team 2001
Christopher Madonna Parma C Oriundo N/A 1972 Batted 3rd for Italy in 2000 Olympic games
but actually from Latin America not Italian
Chairon Isenia TB C Curacao 0HR 11RBI .218(AA) 1979 Also plays OF
IF            
Sharnol Adriana Acereros 1B Curacao (Mexican League) 1970 Batted 4th for Dutch national team at Intercontinental Cup in 2002
Ralph Milliard HCAW SS Curacao N/A 1973 Played in MLB '96-'98 Has speed
Randall Simon CHC 1B Curacao 16HR 72RBI .276 1975 Rising star
Evert-Jan't Hoen Neptunus 2B Netherlands 5HR 32RBI (Nep) 1975 Played in the Anaheim organization once
Percy Isenia Neptunus 1B Curacao 4HR 26RBI (Nep) 1976 Batted 5th for Dutch team in '02 WC
Ivanon Coffie CHC 3B Curacao 14HR 42RBI .245(AA) 1977 Played in 23 games w/O's in 2000
Raily Legito PSV SS Curacao N/A 1978 Has played in 45 games for the Dutch National Team
Vince Rooi MON 3B  Netherlands 7HR 52RBI .254(A) 1981 Member of 2001 Dutch national team
Jeffrey Verbij Kinheim 1B Netherlands 7HR 23RBI (Kin) N/A  HR king for Dutch ML 2002
OF            
Hensley Meulens Puebla OF Curacao N/A 1967 Played 473 games with Yankees
Has played in Mexican League in the last few years
Brian Lesher TOR OF Belgium 0HR 2RBI .276(AAA) 1971 Hit 5HR in rookie year 1996
Claudio Liverziani Bologna OF Italy 11HR 50RBI .368(Bol) 1975 Italian League RBI leader in 2002
Gene Kingsale DET OF Aruba 1HR 8RBI .208 1976 Has played in MLB since 19 y/o Switch hitter
Dirk van't Klooster Neptunus OF Netherlands 0HR 26RBI .350 (Nep) 1976 Batting leader in Dutch ML 2002
Andruw Jones ATL OF Curacao 36HR 116RBI .277 1977 More than 30HR for the last 4 years Has speed
Daniele Frignani Bologna OF Italy 7HR 46RBI .358(Bol) 1977  Member of 2000 Italian national team
Danny Rombley MON OF Netherlands 0HR 23RBI .239 (A) 1979 Has speed
Sidney de Jong HCAW OF Netherlands 1HR 24RBI .336(HCAW) 1979  Dutch ML MVP & RBI leader in 2002
Mario Chiarini N/A OF Italy N/A 1981 Batted 4th in Olympic 2004

Ref.
Orlando Munoz

Modena

IF Venezuela 0HR 32RBI .402(Modena) 1971 Venezuelan but plays in Italian league
Ramon Tavarez

Anzio

IF Dominica 5HR 41RBI .380(Anzio) 1969 Dominican but plays in Italian league

GRAND SLAM introducing Dutch Major League  European Baseball Championship 1999  Baseball Italia