Bookmakers currently price Spain and the Germans as the clear favourites to win the tournament, but Loew has claimed that more nations are capable of claiming the trophy.
"What bothers me is that in the past few weeks there is only talk about a duel between Germany and Spain," said the 51-year-old coach. "It won't necessarily come to such a duel. There are other nations who are very good."
Spain and Germany contested the last European Championships final in 2008, a match which the Spanish won 1-0 courtesy of a goal from Fernando Torres.