The two teams played out a draw at the goalless Etihad last week, but Real Madrid booked their spot in the 2016 final courtesy of a 1-0 victory at the Bernabeu on Wednesday night.
Carragher, who won the European Cup with Liverpool in 2005, has said that he 'cannot believe how bad Man City performed in both games".
Can't believe how bad Man City performed in both games. Looked completely overawed.— Jamie Carragher (@Carra23) 4 May 2016
Real Madrid will take on rivals Atletico in the final of the European Cup on May 28 in Milan.