Ya Krunk'd Floo
Moving with the swell.
Obviously, if you limit your choices to one particular country, the pool of playing talent is going to be a lot smaller than if you broaden it to encompass the world. I cringe when I hear managers and commentators complain about there being too many foreigners in the Premiership, as if being born in a different country should define you in any way.
However, I think a team should show at least some representation of the country they are based in. Of course, Arsenal have Cole, Campbell and the recently acquired Walcott, but that's basically it in their whole first team squad. They had a good young English player in Bentley, but they let him go. Also, Hoyte looks just as good as Glichy, but it's Hoyte who was loaned out.
Obviously, I'm incredibly biased, but Spurs seems to be doing very well in acquiring talented young players who are performing better than Arsenal's at the moment; Robinson, Dawson, King, Carrick, Jenas, Lennon and Defoe are in no way inferior to Almunia, Sanderos, Toure, Flamini, Fabregas and Van Persie. Actually, Fabregas trumps all of them, but the rest compare favorably.