HOSTS: West Germany, WINNERS: Holland
Marco van Basten scored one of the greatest goals in European Championship history as Holland downed the USSR 2-0 for their only international success to date.
Ruud Gullit headed the Dutch in front after 33 minutes, before Van Basten's moment of magic nine minutes after half-time.
Arnold Muhren's long ball seemed too strong and too high for van Basten at the far post, but the AC Milan striker spectacularly volleyed past Rinat Dasayev to seal the win.
Igor Belanov had a penalty saved by Hans van Breukelen after 70 minutes as the Soviet Union lost in the final for the third time.
They had previously beaten Holland 1-0 in their Group B game, and were indeed unbeaten until the final - including in qualifying, where they saw off holders France and an impressive East Germany.
They reached the final with a 2-0 win over Italy.
Gennady Litovchenko broke through the Italian defence to poke home just after the hour, before Oleg Protasov made the most of the open space behind the advancing Italians just two minutes later to make it 2-0.
The Dutch recovered from their defeat by the Russians in the group stages to see off basement boys England with a van Basten hat-trick, and Republic of Ireland thanks to a late Wim Kieft goal to finish second in Group B.
But the eventual winners fell behind to a 55th-minute Lothar Matthaus penalty for the hosts West Germany in their semi-final.
It remained 1-0 until van Basten was brought down in the penalty area 16 minutes from time, Ronald Koeman equalising from the spot.
Van Basten saved the game from extra-time, sliding in for a last-minute winner.
The hosts had made the most of their automatic qualification by topping Group A, ahead of Italy on goal difference while Spain and Denmark, who each failed to score against the two qualifiers, bowed out.