"There will be a reversal…this is just a correction in an ongoing bull market,” Mobius told CNBC.com on Wednesday.

After all this turmoil is over you’re going to see people moving back into these countries, many people haven’t left (and) you’ll see more and more people coming in,” he added.

But, Mobius says that once the economic mayhem in Europe is over, there is a risk of hot money pouring back into the region, similar to what happened in 2008 during recent the global financial crisis.