Buffett also says things are beginning to "slip pretty fast" in Europe, especially over the past six weeks. He's confident "they'll get it worked out" by ten years from now, but right now there's no obvious answer. A big part of the problem: it's not clear who is in charge, if anyone, and Europe doesn't have its own "printing press."
Buffett says he "doesn't know" if the euro will still be a currency ten years from now. He thinks the euro zone can't exist as "originally designed."
Despite the slowdown, Buffett says the U.S. economy is still doing better than "virtually any other big economy" around the world.
He says that "to some extent," he is in a wait and see pattern on where the economy will going.
Asked about the scandal surrounding interest rate manipulation by Barclay's and other banks, Buffett called it a "big deal" and "can of worms" that "shakes your faith in certain institutions."
He believes Barclays CEO Bob Diamond had no choice except to resign.
Buffett did endorse JPMorgan Chase CEO Jamie Dimon, calling him "one of the best bankers in the world" who "understands banking and understands risk."
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