Cristiano Ronaldo believes that Spain are the favourites to win Euro 2012, but he is also confident of Portugal's chances in Poland and Ukraine. The Real Madrid forward hailed the reigning European champions as he thinks they have enough quality to cope with the absence of some key players, before adding that Vicente del Bosque would be able to field two teams that could fight for the title. "If I had a suitcase full of money, I would bet on Portugal and Spain. I don't want to be a hypocrite. I'm very hopeful [about our chances] but, after Portugal, I'd go for Spain," the attacker was quoted as saying by Marca. "They [Spain] are the favourites to win Euro 2012. They're one of the strongest teams and have a big chance of getting to the final. "[Carles] Puyol and [David] Villa will be greatly missed but others will replace them and do a good job because Spain have a core of very good, strong players. [Vicente] del Bosque could have two national teams and compete for the title with both." Spain start Euro 2012 with the Group C match against Italy on June 10. Portugal, meanwhile begin their campaign in Group B against Germany the day before.