Asked in an interview with German magazine Kicker to name the favourites, the 61-year-old said: "After what they showed at the World Cup and since then, it will above all be the teams from the Netherlands and Germany."
"Behind there are four teams who can win it," he continued, citing Portgual, who have "one of the best players in the world in [Cristiano] Ronaldo and a solid team", among them.
Concerning his own side, who edged the Netherlands in the 2010 FIFA World Cup South Africa™ Final, he added: "The entire team know that as the reigning European champions, the heavy weight of responsibility lies on our shoulders.
"But everyone in the team wants to defend our current position in world football, even if this task looks tricky."
The tournament co-hosted by Ukraine and Poland runs from 8 June to 1 July.