Fund Managers Double Down On Greek Crisis

With Athens scheduled to repay its International Monetary Fund loan in just a few days, many worry that Greece is heading for a default, but others say the region is on the upswing despite the ongoing Greek drama.

Possibility Of A Grexit?

European Commission President Jean-Claude Juncker remarked that although they were working to avoid a Grexit, he couldn't "pull a rabbit out of a hat" to keep it from happening.

Related Link: Exclusive: The Grexit And Why "We're About To Witness The Return Of Drachma"

Weekend Summit

This weekend, EU policymakers are expected to gather in order to try to reach an eleventh-hour deal to release Greece's funding. So far, the nation has been unsuccessful in convincing its creditors that it is serious about reform, especially after Syriza, an anti-austerity political party, was elected into power.

Bracing For Default

Many now believe that a Grexit is a very real possibility, but fund managers say Europe is ready to weather such an event. As Greece's debt problems have been ongoing for four years, some say that markets will remain calm in the event of a default.

For that reason, funds like the Thornburg International Value Fund Class A TGVAX and RSQ International Equity Fund Investor Class RSQVX are pouring money into European markets despite the region's uncertainty.

Nations like Italy, Spain and Germany are all expected to benefit from the European Central Bank's quantitative easing program, and lower oil prices are likely to help boost the region's GDP in the coming quarters. Many fund managers say that with the Greece issue dragging the region's share markets lower, now is the time to buy.