Turkey had been favourites to host the event but their bid has hit difficulties due to a desire to host the Olympic Games in Istanbul in the same year.
And Platini has confirmed a radical alternative is now being considered, which could lead to the tournament being staged in more than one or two countries.
"The Euros in 2020 could be held all over Europe," said Platini.
"It could be either one country and 12 stadiums or one stadium in 12 or 13 cities.
"The Euros in 2020 could be held all over Europe. It could be either one country and 12 stadiums or one stadium in 12 or 13 cities. "
Michel PlatiniQuotes of the week
Michel PlatiniQuotes of the week
"It's an idea I feel really passionate about. It will be a lot easier from a financial perspective."
Platini confirmed a final decision would be taken in January or February next year, saying: "This matter will be discussed very seriously."
As well as Turkey, there had also been talk about a three-pronged Celtic bid from Scotland, Wales and Republic of Ireland.
Great debate
Platini continued: "We are not going to wait until we know whether Turkey are going to get the Olympics.
"It creates a problem for us. We do have other candidates.
"Everyone has the possibility to host it.
"It is easier to go from London to Paris or Berlin than Cardiff to Gdansk.
"It would be four games per venue. It is a great debate.
"We are just thinking about it. I have said 12 or 13 host cities, it could be 24 or 32.
"We wouldn't have to build stadiums or airports. That could be important in an economic crisis."
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