Warren Buffett Sends Stark Warning About Euro
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Billionaire investor Warren Buffett believes a collapse of the Euro is not "unthinkable," telling CNBC "enough of a strain could cause it to fall apart."
He states that while there will be "huge efforts" to help preserve the euro, countries like Portugal need to find a way to resolve their own fiscal crises.
Buffett comments, "You can't have three or four or five countries that are in effect free-riding on the other countries. That won't work over time—they have to get their fiscal houses in reasonable harmony."
Buffett feels the current fiscal woes Europeans are facing right now will not impact Berkshire Hataway too badly, noting that while it might not be the end of the world, "a lot of adjustment would be needed if the euro proved to be in real trouble."
He states that while there will be "huge efforts" to help preserve the euro, countries like Portugal need to find a way to resolve their own fiscal crises.
Buffett comments, "You can't have three or four or five countries that are in effect free-riding on the other countries. That won't work over time—they have to get their fiscal houses in reasonable harmony."
Buffett feels the current fiscal woes Europeans are facing right now will not impact Berkshire Hataway too badly, noting that while it might not be the end of the world, "a lot of adjustment would be needed if the euro proved to be in real trouble."
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