But Joe Tanious, investment strategist at Bessemer Trust tells CNBC's "Power Lunch" on Wednesday, the impact of Greece on European economic growth is likely to be minimal.
"Greece's economy is relatively small within Europe. Overall economic data in Europe still encouraging with manufacturing activity, credit growth, and earnings revisions suggesting better times ahead. Pullbacks in Europe represent buying opportunities in our view," Tanious said.
He also believes the impact to the U.S. will be limited as economic data still indicate a rebound in growth from earlier this year.
The DAX and CAC both traded higher on Wednesday.