"If everybody competes like they did this year, I'd say Yohan Blake is going to win," Greene told BBC Radio 5 live.
"He's the world champion so his confidence is getting higher and higher all the time.
"Remember they train together and the way it sounds to me, he [Blake] seems to be the dominant person in the 100m in their training group.
"So everyday they are training together, his confidence is getting bigger and bigger. When they come to the Games, if Usain is still having those problems, Blake's confidence level will be through the roof and he's going to be hard to handle.
"Usain has trouble in close races. If you think about the close races he's had, he's lost [them]."
Bolt, 25, has dominated the sprinting world in recent years and currently holds the world record in both the 100m and 200m.
Head to head
St James, Jamaica
He won the 100m and 200m sprint double in then-world record times at the 2008 Olympics in Beijing and then matched his feat the following year at the World Championships in Berlin, setting new marks of 9.58 seconds in the 100m and 19.19 in the 200m.
Blake, who won world 4x100m relay gold with Bolt in Daegu, has had the best year of his career in 2011, following up his maiden world title by
beating countryman Asafa Powell in the 100m
with a personal best of 9.82 in September.
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