European stocks have enjoyed healthy gains so far in 2015 and Franklin Mutual Series CEO Peter Langerman believes there is still room to run. 'There is still a fair bit of skepticism about whether the European economic recovery will last,' says Langerman. 'And while Greece and the Ukraine remain important unresolved issues, we think there are lots of investing opportunities left in Europe.' The iShares MSCI EMU ETF (EZU) is up over 9% year-to-date compared to the S&P 500 which is up just over 3%. The lead will certainly shrink if Greece does in fact leave the European Union, however, Langerman says any dislocation in European stocks will be short-lived. 'We are not nearly where we were a few years ago when there was the threat of tremendous ripple effects,' says Langerman. 'Long term it will be contained.'