Jim Cramer noted that he's been buying European index plays for ActionAlertsPlus.com because he thinks that this turn in Europe started years ago. He also noted that the French economy could be strong and people have just written it off.

Cramer continued to say that on the other hand, Brexit is hard to call. Their interest rates have to go up because they have inflation, and that's worrisome.  

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This article was written by a staff member of TheStreet.