The former Italy hero is recognised as one of the finest to have pulled on a pair of gloves and has kept a close eye on the current generation of keepers at the World Cup.
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He told Gazzetta dello Sport: "The German goalkeeper [Neuer] is currently No.1 in the world. He has class, coldness, a sense of place and, compared to many of his colleagues, he has one more weapon ... he's terrific with his feet."
Neuer will be the first name on the team sheet when Germany take on Brazil in the first of the two World Cup semi-finals on Tuesday, where he will line-up against opposite number Cesar.
The Brazil goalkeeper has rolled back the years at the tournament after a mixed couple of years at club level, in which relegation from the Premier League with QPR was followed by a loan move to MLS side Toronto FC.
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"You could see that he had studied well the characteristics of the Chilean penalty takers," the 72-year-old observed. "I'm happy because Julio must have had a year of hell. First put off by QPR, then forced to emigrate to Toronto to play.
"Julio is a leader. Maybe he's not as explosive as in the days of Inter but he is still one of the most reliable goalkeepers in the world."