Buffett says Europe's fiscal problems will linger

[May 07, 2012]  OMAHA, Neb. (AP) -- Billionaire Warren Buffett says Europe will have a hard time resolving its fiscal problems because of the structure of the European Union and this weekend's election results in Greece and France.

Buffett appeared on CNBC Monday morning two days after meeting with more than 30,000 people at Berkshire Hathaway's annual meeting.

Buffett says Europe has a lot of problems and won't solve them without a lot of pain.

He says part of the challenge is that the Europe Union's 17 countries don't have similar monetary policies.

Buffett says it's not surprising that people in Greece and France voted against the pain of austerity.

But he says the turmoil in Europe won't keep him from investing.

[Associated Press]

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