Any club that manages to get to this stage shouldn't be underrated. At this stage, we would have to expect football at its best. PSG meeting Liverpool will be a big game but I predict that the English side will win and qualify for the quarter-finals. Real Madrid versus Bayer Leverkusen will be another tough game. Xabi Alonso might be outsmarted tactically by the experienced Carlo Ancelotti. Maybe we might also see a surprise result that will make Real Madrid management to consider Xabi as a replacement for the departing Carlo.
I will not easily conclude that Liverpool will easily face PSG who this season looks different in terms of the quality of the game is increasingly stable. Seeing the way PSG maneuvers in the Champions League seems to indicate that they are no longer reckless and have learned a lot. So Liverpool vs PSG can end dramatically, both have a big chance to beat each other. Regardless of Liverpool current strength, PSG can still provide a surprise.