Hmmm... Well, I immediately can say, that my country inherited a very good education system from USSR times. USSR had one of the best educations, really. And we got those teachers, those classes, free education at its finest, and it was good, too.
However, along the way, we kinda dropped the ball. I had teachers themselves admit to me, that the curriculum becoming worse. Generally, it can be blamed on lack of funding and the fact that education program is decided by government, and my government is shit.
I visited a presentation recently, where education representatives clearly admitted that current education program can give knowledge, but can't really prepare student for actual work in a chosen sphere. And, even then teachers mean well, their hands can be tied by official program.
Most old teachers I know were studying in Moscow or St. Petersburg, and for them universities there are like the golden standard, which is harder and harder to keep up with. And newer generation teachers don't even have examples like that, so the whole thing kinda goes downhill as time passes.
Now, I can't say it's all bad. And I can't say that education is crumbling. It's just a slow downhill movement, but still, negative overweights the positive for now, so it's slowly getting worse. I will add to this, if I would think of more particular details.