They went on to be defeated Earnings_and_losses by eventual champions Competition Internazionale in the third round .

This was Liverpool 's second appearance Presence in the European Cup : they had reached Arriving the semi-finals during the 1964–65 season , losing Earnings_and_losses to eventual winners Internazionale .

The defending champion was Internazionale , which was eliminated Conquering in the first round by Boavista .