The Italian coach attempted to take some of the pressure off his men for the final by saying that La Roja have a better squad, but insisted his side will not throw in the towel
A late goal from Mesut Ozil was not enough to deny Italy a place in the showpiece decider after the Azzurri had taken the lead in the first half with two goals from Mario Balotelli.
After the match, Prandelli hailed his team's display, and despite watching his side eliminate one of the heavy favorites for the tournament, he has tipped Spain to retain their European crown.
"In the last 15 minutes, we wasted so many opportunities to make it 3-0, then our players had nothing left and we were forced to defend in the area," Prandelli told Rai Sport.
"We showed on the field everything we had prepared.
"Spain? They are clearly the favourites in terms of experience and quality, but we will be there to fight. We showed today just how much we respect and honour this shirt."
The final on July 1 in Kiev will kick off at 2:45 p.m. ET. Spain and Italy drew 1-1 when they met in the opening Group C fixture.
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