It's being interpreted here as less than a European final and more a grandiose version of a national championship decider that may be the envy of every other country on the Continent.

Spain provide three of the 12 athletes, due on the starting line here in the Nep stadion this afternoon to determine the new 1,500 metres title-holder.

And for many, the only real point at issue is the order in which Fermin Cacho, Andres Diaz and Reyes Estevez will finish in what would be one of the most remarkable grand slams in the history of middle distance running.

Niall Bruton carries Irish hopes, but with three representatives in the field, John Mayock, Anthony Whiteman and Matthew Yates, Britain are perceived as presenting the biggest threat to the making of history.

Mayock, a former European indoor champion, is capable of a big run in the mood but closer analysis suggests that if the Spaniards report fit, they will stream across the finish line at the head of the field.

Just now, the fitness of Cacho and Diaz is in some doubt and that perhaps is the biggest hope opening up to those rivals who may feel that they are merely making up the numbers in the race.

Cacho, one of the great names of the sport after delighting his fellow countrymen by winning the Olympic 1,500 metres final in Barcelona in 1992, has only recently returned to competition after missing the national championships because of a calf muscle injury.

The word among the Spanish media is that Diaz, second to Cacho in the semi-finals, may need a pain-killing injection to run today, leaving Estevez, at 22 the junior member of the team by some way, as the likely new champion.

It would not be an unpopular result for the young Spaniard is regarded as one of Europe's foremost emerging talents after winning the Under-23 championship in a manner which evoked memories of Cacho at a corresponding stage of his career.

Later, he would take the silver medal in the World Championships at Athens and for many, Budapest is seen as a mere stopover on the journey to the ultimate fulfilment of Olympic success.

The perspectives are somewhat different for Niall Bruton, an established member of the Irish squad for the last five years but now faced with a big challenge to retain his status as a serious championship contender.

That is largely a product of the injury and illness problems he has encountered in recent seasons but after a difficult time this summer, he was much closer to his best when qualifying for the final on Tuesday.

True, he only got in as one of the fastest losers but, significantly, he was always in contact with the leaders and when the push for home materialised, he quickened in a manner reminiscent of more successful days.

If it is stretching imagination too far to suggest that he will be a factor in the finish today, his performance may still demand attention.