Buffett says still Europe faces real debt problems

AP News
|
Posted: Jul 07, 2011 10:23 AM
Buffett says still Europe faces real debt problems

Billionaire investor Warren Buffett says recent efforts to help Greece avoid default have not solved Europe's financial problems.

The chairman and CEO of Berkshire Hathaway Inc. said Thursday on CNBC that Europe is capable of solving its financial problems, but the issues haven't been solved.

Buffett says it's clear that Europe still has lingering problems because the bonds issues by the 17 countries that all use the euro currency offer significantly different yields.

He says there is a lot of work to do to save the euro because a couple countries are dragging down the rest of Europe.