"The first half could have gone our way, we had a couple of decent chances but when their goal came it was at the best time for them and the worst time for us.
"It was the turning point, they were a functional, very clever, efficient side and all credit to them.
"I didn't think we deserved to be behind at the break, and their goalkeeper saved them in the second period.
"He made fine saves, particularly one from Steven Gerrard, and we just couldn't get back at them.
"They played well, and reached a level of energy that we couldn't match.
"I hope they now go on and win the cup, we are disappointed because we were just three games from the final but there was no over-confidence from us."
Click here to listen to Houllier's post-match interview