This second best competition in Europe is stronger every year. I think that many teams here deserve to be in the Champions League because the quality of football in EL is very high.
I will write about every group and single out favourites:
Group A - Very tough group for Liverpool. Maybe a toughest group in all competition. Udinese and Anzhi are serious contenders to go through but i give chances to LFC to win it. Brendan Rodgers have few young talents like Sterling and Shelvey who are already a starters and I think this is right competition to get real experience for these boys. Udinese didn't have luck to qualify for CL for 2nd straight time but Di Natale and he's teammates are ready to battle for second place in this group,at least. Samuel Eto'o and Guus Hiddink have a very good team with couple of great players like Boussoufa,Zhirkov and Samba. It will be interresting to see them against LFC. Young Boys, in my opinion are totally outsiders.
Group B - Defender of the title, Atletico Madrid had lucky draw and they are a absolute favourites to win this group. With Falcao (probably best striker in world at the moment), everything else would be a big surprise. Viktoria Plzen, Academica an Hapoel will battle for 2nd place and they all have same chances to do so.
Group C - Another serious group. Marseille and Fenerbahche are favourites but Monchengladbach and their offensive style of football are tough team to beat. Fener had busy summer and add Kuyt,Meireles and Krasic and with Alex they aare maybe a main contenders for group C. AEL Limassol is not bad at all, Anderlecht had much trouble to beat them in CL qual. and Cypriots have many Portuguese and Brazilian players so don't be surprised if they take couple of points from 3 teams above.
Group D - Newcastle United with couple great players like Ben Harfa,Cabaye, Cisse and Ba are clearly main contenders to win this group. Bordeaux were very lucky to be here, but they and Brugge are good teams with experience playing in this competition. They will be favourites for 2nd place and Maritimo will present a threat for all because Portuguese are not outsiders.
Group E - Not a very attractive group with couple of Scandinavians, Stuttgart and Steaua. Kobenhavn have strong side with lot of experience playing in CL in recent years. Molde is new in this competition and Steaua is team with regular European football. Germans are remains favourites to win this group and other 3 teams will be competing for 2nd place.
Group F - One thing is sure in this group and that is AIK are totally outsiders and one of the weakest sides in EL this year. Napoli with Cavani, Hamsik and other great players are most probable to be 1st. PSV are team with biggest experience in playing this kind of matches and strong Dnipro will be a hard nut to crack with couple of ukrainian internationals. Football is much better in Eastern Europe in recent years, so eventual Dnipro's success won't be a surprise. Strong group.
Group G - Two teams will be pulling the strings in this one, Sporting and Basel ofcourse. Portuguese side is almost every year in EL finish and Basel is every year a CL contestant. Only question is who are gonna be the 1st in group between these two teams. Maybe Genk have a quality to surprise them at home ground but nothing more than that. The Hungarians Videoton don't have strength for battle with these teams.
Group H - Should be an easy group for Inter and Rubin. Although Partizan Belgrade is every year in Europe, quality in Serbian football is not so high. They would be a super satisfied if they not lose at home from Inter and Rubin, and they will be searching for nice start against relatively unkown Neftchi Baku. There are lot of investements in Eastern European football, but i think that Baku side don't have a chance for nothing else than 4th place. Inter or Rubin will be 1st.
Group I - Last year finalist Athletic Bilbao is favourite to win this group along with Lyon, ofcourse. It seems that they are resolved situation with Llorente and he is back in first team. With Muniain, De Marcos, Ituraspe and returnee Aduriz, I'm sure they will play maybe a most attractive football in competition, like last year. Olympique will not have serious problems to make a next round and matches between them and Bilbao will decide who is gonna be 1st. Sparta Prague is not bad team at all but they have to be satisfied if they finish 3rd. Hapoel Shmona is candidate for last place in this group.
Group J - In my opinion, not so hard group for the Spurs. Panathinaikos is good team but only at home and Maribor is outsiders and maybe they will not win even one point. Lazio have a good team and they are contenders for 2nd place with PAO probably. Last year Tottenham was not succesfull in this competition because Harry Redknapp has decided to give a chance to young players. I think that would not be the situation this year with AVB at the helm.
Group K - Another unattractive group with couple of weak teams like Rapid Wien and Rosenborg. Although Rosenborg plays in CL almost every year I think they don't have a strength for nothing more than 3rd place. My favourite to win this group is Metalist because last year was fantastic for them in this competition and this year they maybe will go further. Leverkusen, ofcourse, is another favourite to win this group and first match between these two will provide an answer who is gonna be 1st.
Group L - Solid group with Twente who have a great start of this new campaign and with Hannover,who plays attractive and offensive football are main favs to win group. At the other side, Levante is good team and they will be looking to make things hard for Dutch and Germans. I think that Helsingborg don't have any chance except 4th place.
At the end, my main favourites to win Europa League are Liverpool, Atletico Madrid, Inter, Napoli, Bilbao and Sporting, but they all should be aware of Eastern Europa teams because Anzhi, Metalist and Dnipro will be very serious and hard to beat.