Europe's investment potential could explode once the Greek drama is over, according to one of Wall Street's largest asset managers.
"The underlying fundamentals in many places in Europe are quite sound, but [the Greece issue] detracts focus from that," said Sheila Patel, CEO of International Goldman Sachs Asset Management (GSAM), a firm that manages $1.2 trillion globally.
"We've seen some strength in peripheries like Spain and Italy but when you see [Greece] going on, can we convince investors to move ahead? I'd say they are still hanging ... For every five investors we get to take a look at Europe, only one invests," she told CNBC on Monday.
Greek Prime Minister Alexis Tsipras and euro zone officials have wrangled for months on what reforms Athens needs to make in exchange for fresh financing from international creditors. Without an agreement, Greece risks defaulting on its debts, and possibly being forced to leave the euro zone. The uncertainty over Greece's future has resulted in depositors withdrawing 5 billion euros from Greek banks in the past week alone, and has scared off many from investing in the region.