Buffett says euro system flawed, needs more than words – report

Buffett says euro system flawed, needs more than words – report
(Reuters) – Billionaire investor Warren Buffett said on Monday that Europe’s debt crisis had illustrated a “major flaw” in the 17-member euro zone system and it would take more than words to fix it. Asked in an interview with CNBC whether the euro zone would still exist in 10-20 years, Buffett said: “There is a major flaw in the euro system … I do know the system as presently designed has a major flaw and that flaw won’t be corrected just by words.” Buffett, dubbed the ‘Oracle of Omaha’ for his long track record as a value investor, said there were good valuations in Europe “… …