CNBC's Jim Cramer sees no reason why investors should put money in Europe banks or stocks right now. With a strengthening U.S. economy, the investing opportunities are vastly more attractive on this side of the Atlantic, he said Tuesday.
"The is a hobbled currency, and money is going to come here (to the U.S.) not overnight, but if you're a trust officer over in Europe or a treasurer of a public company, I'd be worried about being sued if I had my money in a Spanish bank," he said, referring to fiduciary responsibility of these officers.
Cramer expects money will flow from Europe to the U.S. in a flight to safety, especially in the wake of the bailout in Cyprus.
Cramer added that in the U.S., "you have autos, housing, oil and gas looking pretty good, commercial real estate could come back."
In Europe, he said, "I just see no reason to invest there, either to put money in their banks, or invest in their stocks. I just don't get it."
"When you crunch all of these banks, you are making it difficult to get credit," he said. "Here credit is getting more plentiful; there it's getting scarce." He said consumers will be faced with the hard decision to keep their money in troubled European banks, and he thinks that the money will leave those names slowly. "Do you really believe the credit is good there?" he asked.
(Related: Cramer: Make Europe's Pain Your Gain)
He added that Europe is more concerned with environmental issues than about creating jobs and strengthening their economies. "They care about austerity and they care about fossil fuels, they don't seem to care about jobs."
"How can you put money there, when you've got so much going on over here?" he asked.
Going against the tape and fighting the in this environment of cheap liquidity is dangerous, Cramer warned, pointing to strength in companies like Dollar General as "instructive" on growing strength in the U.S. retail sector.