Complex sentence: The current champions are Spain, who secured a second consecutive title after defeating Italy 4--2 in the previous final in Israel, but they won't be able to defend their title, after being defeated in the Qualification Play-offs by Serbia.
Split into simpler sentences: The current champions are Spain, who secured a second consecutive title after defeating Italy 4--2 in the previous final in Israel. However, Spain will not be able to defend their title, after being eliminated in the qualification play-off by Serbia.