Earlier in the week, Gazzetta dello Sport came in for much criticism over a deeply inappropriate cartoon depicting Balotelli as King Kong.
Since then, the Italian sports paper has been doing its best to make it up to Mario. After his two-goal salvo against Germany, Gazzetta described him as 'the pride of Italy', and this morning the great man dominates the front page.
'Il più Balo d'Italia' says the headline - an Italian pun, which thankfully doesn't need a cryptographer to unravel.
'Il più bello d'Italia' translates roughly as 'Italy's best/most beautiful' - susbstitute 'Balo' for 'bello' and you have your headline. Simple.
Over at Corriere dello Sport, the Photoshop whizzes have put Balotelli's hair and earrings on Italian Prime Minister Mario Monti, who socked it it Germany's Angela Merkel at this week's EU summit.
We'll leave it to you to judge the result, but we're sure we've seen that guy somewhere in Soho.
Balotelli even gets star treatment in Spain, where Mundo Deportivo focuses on his trial at Barcelona's legendary La Masia academy when he was 15.
The paper attempts to credit Barca for Balotelli's development as a player - strange, since the club rejected him.
In recent years, the Catalan press has become much more enthusiastic about Spain's national team, thanks to an easing of regional tensions and an unprecedented run of success.
However, Barcelona daily Sport goes old school this morning, ignoring the Euro 2012 final and focusing instead on Barca's widely-anticipated signing of Jordi Alba from Valencia.
The story is illustrated with a picture of Alba playing for the club as a kid - again, it's a strange thing to crow about as he too was rejected by Barca.
Back to Balotelli, who also dominates the English rags, with The Sun and the Daily Star both reporting that he will not leave Manchester City this summer.
Balotelli, who Manchester City paid Inter Milan £22 million for in 2010, says City fans still love him, despite Italy knocking England out of the Euros, and that, apparently, is enough to come to the conclusion he is going to stay put.
Super Mario will line up against fellow City star David Silva in Kiev; although the pair may not be club team-mates for much longer, according to the Daily Star.
Real Madrid are apparently lining up a shock £30m deal to take the Spain midfielder to the Bernabeu.
The report claims: "Luka Modric has been touted as Jose Mourinho’s prime midfield target. But sources in Spain now suggest that the move to take the Croatian from Tottenham is merely an elaborate smokescreen to mask Mourinho’s true plans."
Meanwhile, City are willing to listen to offers for former captain Kolo Toure, with Turkish club Bursaspor preparing a move for the Ivory Coast central defender, The Sun reports.
Across town, Manchester United are closing in on a swoop for Everton left-back Leighton Baines.
The Daily Mirror says Alex Ferguson is keen to wrap up a deal for the 27-year-old as soon as possible.
The Toffees value Baines at £20m, but United think a fee of around £15m is more realistic.
But United are resigned to losing out on Modric, with the club unwilling to meet Tottenham's £35m valuation of the Croatian midfielder.
Spurs manager-in-waiting Andre Villas-Boas is set to lose a huge amount of money when he is officially named in the role next week.
The Sun have done their sums and come up with a figure of £11m - the remaining 25 months of his £100,000-a-week deal that Chelsea agreed to continue paying until he found a new job.
Benoit Assou-Ekotto's future at White Hart Lane is in doubt with Spurs set to move for full-back Alvaro Pereira.
The defender played for AVB at Porto -where they lifted the Portuguese title after an unbeaten league season and also won the Europa League final - and the club are keen to reunite the pair, according to the Daily Mirror.
Up at Liverpool, new Reds boss Brendan Rodgers is eyeing up a swoop for Bolton's Mark Davies after missing out on Gylfi Sigurdsson.
The Mirror reports that Sigurdsson - who starred for Rodgers at Swansea last season - will sign for Tottenham in an £8m deal next week, leaving Liverpool to look elsewhere to strengthen their midfield.
Davies is likely to cost Liverpool £6m as he looks to leave the relegated Trotters.
In other transfer tittle-tattle today, Newcastle have sent a delegation over to Holland in a bid to tie up a deal for FC Twente's Dutch international striker Luuk de Jong. (Daily Mail)
Martin Olsson has handed in a transfer request to Blackburn Rovers, with West Ham and Stoke interested in the Swedish defender. (The Sun)
Everton and Fulham are leading the chase for freed Besiktas defender Tomas Sivok and Aston Villa midfielder Stephen Ireland is attracting interest from clubs in Russia and Turkey. (Daily Mail)
And finally, Stoke are monitoring Scotland aces Steven Fletcher of Wolves and Steven Naismith of Rangers. (The Sun)