The 62-year-old believes that Joachim Low's side will triumph in the tournament, while stating that Spain have the best center-back pairing in the competition
The Mannschaft is widely viewed as one of the favorites to secure the European crown, and it will have the chance to play for a place in the final as it locks horns with Italy on Thursday.
Olsen thinks that Spain are also in the running for the title, but in his opinion Germany have the edge over La Roja.
"I would say that Germany are going to win the Euros," Olsen told Danish newspaper BT. "The Spaniards have been convincing as far as possession of the ball is concerned, but the Germans create chances more easily.
"Both teams have incredible offensive qualities, but Germany's game is more dynamic.
"I have to say that Sergio Ramos and Gerard Pique have been playing very well. Together with Mats Hummels and Daniel Agger, they have been the best defenders of the tournament."
Denmark crashed out of Euro 2012 in the group stage following defeats to Portugal and Germany in its last two matches.
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