Stammers added: “We’ve had a couple of elections in France and the Netherlands and people have perhaps taken that as the sign things are all well and good.”
With Brexit on the horizon, German elections to come and the Greek situation which “has not gone away”, the future is not as bright for Europe in Stammers’ eyes.
“I think it’s very understandable that the Europeans are feeling a bit unsettled,” he added.
However, others remained determinedly positive on the investment scene in Europe.
Jon Cunliffe, chief investment officer at Charles Stanley, was bullish on the prospect for the eurozone despite what he called the market’s “higher premium”.
“We believe that eurozone earnings are poised to grow strongly this year and that the low level of core inflation will ensure that the European Central Bank will remain resolutely dovish.
“Both of these factors are likely to be strong tailwinds for the market.”
