Thursday, March 24, 2011
Warren Buffett told CNBC Thursday that the collapse of the euro zone’s single currency is far from “unthinkable.”
“I know some people think it’s unthinkable…I don’t think it’s unthinkable,” Buffett said in an interview.
Still, Buffett said he believes there will be “huge efforts” put forth to preserve the euro. In the meantime, struggling peripheral countries like Portugal must find a way to resolve fiscal crises.
“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,” he said.
This article was posted: Thursday, March 24, 2011 at 12:02 pm