Paul Collingwood hails England World Twenty20 victory
England had lost four previous world finals in the 50-over format
Captain Paul Collingwood said England's World Twenty20 triumph rivalled the 2005 and 2009 Ashes Test series successes over Australia.
England beat Australia by seven wickets in Sunday's final in Barbados to seal their first global one-day trophy.
He said: "It's right up there, it's got to be. This is our first World Cup we've ever won and the boys deserve it.
"We've put a lot of hard work and effort in and the boys are absolutely thrilled we put that performance in."
England had lost four previous finals in the 35-year history of one-day international tournaments, but were always favourites to win Sunday's showdown after reducing Australia to 8-3.
They bowled and fielded superbly to limit Australia's powerful batting line-up to 147-6 and then cruised to victory with three overs to spare after Craig Kieswetter and Kevin Pietersen put on 111 for the second wicket.
Collingwood, who hit the winning run, attributed the improvements in his team to hard work.
"We've got some good players in the side, we've a great work ethic over the past year and we're starting to see the results on the pitch.
"There's a lot of confidence in the side; you can see the belief that we've got going out on the pitch.
"The power that we've got, the thought processes the bowlers are using, the fielding, everything seems to be stronger."
Pietersen, named player of the tournament after scoring 248 runs in six matches, including 47 in England's victory in the final, praised his team-mates.
"It's been a pretty interesting week for me," said the 29-year-old batsman, who flew back to London last weekend to attend the birth of his first child before returning to the Caribbean for England's semi-final.
"I had a little kid on Monday and this trophy here.
"But this trophy goes to all the lads. They support each other and share each other's success.
"The more you play, the more you win and the more it becomes a habit, like the great Australians.
"This team is hungry for success, we want to win."
Kieswetter, who was named man of the match for his 63 off 49 deliveries, won a trophy in his first competition as part of England's Twenty20 team.
The Somerset wicketkeeper-batsman said: "It's been a great experience, to play against the Australians in the final makes it all much better."
Australia captain Michael Clarke was magnanimous in defeat.
"I don't think we scored enough runs," he said. "I think you've got to give credit to England, they outplayed us.
"We've played really well throughout the whole tournament.
"We're obviously disappointed in the final to not get the result but I think we should hold our heads high.
"Australia in Twenty20 are only going forward. We tried our best, we just got outplayed today.
"The way England were playing, we probably needed 200. They've had a wonderful tournament."
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