Berkshire Hathaway Inc.'s Warren Buffett, who has sold most of his company's holdings of European sovereign debt, said his firm isn't interested in helping to bail out lenders on the continent. Berkshire sold most of its European holdings about year and a half ago, the billionaire said today on CNBC. A German reinsurance unit still holds some bonds from that nation, and Berkshire is "fine" with the investment, he said. The European debt crisis is bound to have some fallout in the U.S., he said. "It's hard to tell" what would happen if Greece fails to pay its debts, Buffett said in an earlier interview with Fox Business Network. "That's the reason I'm Full interview
Friday, 30 September 2011
A top official at the European Central Bank said off the record that the ECB/EU/IMF troika could require private holders of Greek bonds to accept a 75% haircut rather than the 21% they were expected to take, according to Italian newspaper Linkiesta (via @FGoria).
This matter could be discussed at an October 3 Eurogroup meeting, though it probably won't appear on the official agenda.
Posted by Britannia Radio at 21:00