Buffett: European economy 'slipping fast'

Warren Buffett has spoken out about the rapidly deteriorating state of the European economy, warning that there is no obvious answer to the region's problems.

Speaking on CNBC today, the investment veteran explained how the economy was "more or less flat" in the USA, although he was even more pessimistic about the situation across the Atlantic. "In the last couple of months, particularly in the last month, across Europe [it's] beginning to slip pretty fast," he said. "It's really headed downward in the last six weeks or so and it wasn't heading that way before." Among the causes he cited was a slowdown in spending while he also repeated previous criticisms of the structure of the eurozone. However, Buffett, the chairman and CEO of Ber...