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Dublin: 9 °C Tuesday 10 December, 2019

Eurozone has major flaw, says billionaire investor Buffett

He added that the future of Europe and the Euro is now in doubt – but he is still interested in buying more European stocks.

BILLIONAIRE BUSINESS MAN Warren Buffett has said that the Eurozone is not working.

The investor told CNBC that the European system as it is at present has a “major flaw” and that things will have to change or be rearranged “because this system is not working”.

According to Buffett that flaw is the fact that 17 Eurozone countries “gave up the right to issue bonds in their own currency”.

He made the comments in a live interview from Japan, during his first trip to the country.

Buffet also said he believes that the future of Europe and its currency is currently in doubt.

Speaking about his own business aims, he said that there are European stocks that he likes and which he will “undoubtedly” be buying.

Buffett added that he may buy more stocks in Tesco – which he invested in earlier ths year – if the price on them comes down.

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