Les Bleus won the competition decider on home soil thanks to a 2-0 win over La Furia Roja, with Michel Platini and Bruno Bellone on hand to deliver their country a maiden European title.
Spain had to wait until 2008 to end their 44-year-old hoodoo in the tournament, but the current Sevilla boss now hopes his fellow countrymen get the opportunity to reverse the outcome of Euro '84 in this year's final.
"Hopefully the final will be between Spain and France, and France to be runner-up, to get revenge for Euro 1984," he told Marca.
Michel then sounded out Spain as clear favourites to continue their European dominance, as he spoke of the feel-good factor currently encompassing the nation.
"Spain are clear favourites for the tournament and have continuity going into the competition," he added.
"I do not want to play down their chances, there is a real euphoria surrounding the country."
Spain kick off Euro 2012 with an opener against Group C rivals Italy on June 10.