Market research group Sentix released its investor confidence index for the Eurozone on Monday. The index fell to 19.6 in May from 20.0 in April, missing expectations for a decline to 19.8.
A reading above 0.0 indicates optimism, below indicates pessimism.
The Eurozone's recovery was offset by the uncertainty over the Greek debt crisis.
The current conditions index climbed to 13 in May from 9 in April. It was the highest level since February 2006.
The expectations index remained declined to 26.5 in May from 31.5 in April.
German investor confidence index dropped to 28.2 in May from 31.4 in April due to a stronger euro and mixed signals from the US economy.