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Buffett says euro won't survive in current form

Associated Press Published: July 13, 2012

OMAHA, Neb. (AP) — Billionaire Warren Buffett says he doesn't think the euro can survive in its current form unless all 17 European countries involved can agree on monetary policies.

The chairman and CEO and Berkshire Hathaway Inc. says the system Europe set up had a fundamental flaw in it. Buffett appeared on Bloomberg television Friday.

Buffett says the 17 countries that share the euro currency have been working to patch their system, but it's difficult to agree when 17 people are involved.

He says business has slowed considerably in Europe over the past few months as those countries struggle to deal with their debt problems.