The exit of Greece from the Eurozone could be constructive for that bloc, said the distinguished investor and one of the richest people in the world, Warren Buffett.
"If Greece leaves the eurozone, it might not be bad for the euro," Buffett told CNBC.
This, as he explained, could lead eurozone members to reach a better agreement on fiscal policy.
Along with Greece, many other members of the Eurozone do not follow the fiscal rules on the budget deficit and public debt, reports SEEbiz.
"If everyone understands that the rules mean something and if the members of the eurozone come to a general agreement on fiscal policy, it could be a good thing," said Buffett, who in the 50 years he has been at the head of Berkshire Hathaway has gone from a small textile company in trouble created a huge conglomerate, which today is worth more than 300 billion dollars.
In addition to the debt problems of Greece, which could lead to bankruptcy and exit from the eurozone, Buffett also looked at the situation in the USA.
The American central bank, the Federal Reserve (Fed), is preparing to raise interest rates, while the European Central Bank (ECB) is running an extremely loose monetary policy, which is why the dollar has been strengthening against the euro for months. At the same time, the prices of European stocks are growing strongly, while American stocks are stagnating, while interest rates in the Eurozone are at record low levels.
Buffett, when asked by a journalist what he would do if he were at the head of the Fed, answered that he would not significantly increase interest rates.
"The economic situation is quite good, but I would be worried about what will happen to the flow of capital, if I significantly increase interest rates, while in Europe interest rates are negative," Baft said.
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