Underappreciated changes are starting to take hold, says a major hedge fund chief.
It's not often that Richard Perry of Perry Capital comes out for an interview, but he talked today - and said investors don't realize all the positive changes taking place in Europe.
I think a lot of people who haven't spent a lot of time interviewing and talking to people that run these countries and different regulatory bodies have a view of Europe, which is based on the fact that they made a lot of promises about Greece and didn't deliver.
And that Angela Merkel and then the rest of the euro zone ended up changing its mind with regard to Greek policy and bringing private pain to couple the public pain" he told CNBC's Becky Quick. "I think that was then and this is now. I think that the EU learned its lesson. I think that they are much more coordinated than they have been."
Perry adds, "they've done an enormous amount in ten months to erase hundreds of years of history and I think that will continue."
Perry expects the European Union to stay together and the euro to remain the currency, and that "although there will be noise, and pain, that that is what the future will bring."