The so-called Sage of Omaha hailed America’s “secret sauce”, yet warned that the Eurozone crisis remains the biggest threat to the global recovery.
Buffett urged Europe to form a united fiscal strategy as well as a more coherent approach to labour policy. The single currency area currently looks like a “house divided”, the chairman of Berkshire Hathaway said.
Addressing economic questions on his own side of the pond, Buffett called for a plan to reduce America’s mammoth deficit that involves both tax hikes and spending cuts from entitlement programmes.
Buffett, a friend of US President Barack Obama, has previously endorsed increasing levels of tax on high earners such as himself.