Buffett says Greek exit from euro may not be a bad thing

first_img Facebook Twitter: @NeosKosmos Instagram Billionaire investor Warren Buffett said the euro region could withstand Greece’s departure from the currency union.“If it turns out the Greeks leave, that may not be a bad thing for the euro,” Buffett told CNBC in an interview on Tuesday. “If everybody learns that the rules mean something and if they come to general agreement about fiscal policy among members, or something of the sort, that they mean business, that could be a good thing.”Europe’s most-indebted state is locked in negotiations with euro-area countries and the International Monetary Fund over the terms of its 240 billion-euro ($260 billion) rescue. The standoff, which has left Greece dependent upon European Central Bank loans, risks leading to a default within weeks and its potential exit from the euro area.Greek Prime Minister Alexis Tsipras sought to rally a consensus in parliament late Monday in Athens for an effort to secure bailout funds after proposals to bolster the nation’s finances failed to satisfy his European creditors. The euro extended its biggest quarterly slide versus the dollar since its inception amid the wrangling.“I’ve thought that the euro had structural problems right from the moment that it was put it in, which does not mean it will necessarily fail,” Buffett said on CNBC. “You can adapt to those structural problems, but maybe some countries won’t adapt and they won’t be in. It’s not ordained that the euro has to have exactly the members that it has today.”Charles Munger, vice chairman at Buffett’s Berkshire Hathaway Inc., criticised Greek citizens last week for trying to vote their way to prosperity. The country’s politics was shaken up in January when Tsipras’ SYRIZA party won the election on a pledge to ease austerity and negotiate a writedown of some of the country’s debt.Buffett told CNBC that, over time, the countries in the eurozone would need to better coordinate their labour laws, fiscal deficits and general management of their economies.“It can’t continue with people going in dramatically different directions,” Buffett said. “The Germans are not going to fund the Greeks forever.” Source: Bloomberglast_img read more

Tuckers Point Hotel Spa Bermudas newest luxur

first_imgTucker’s Point Hotel & Spa, Bermuda’s newest luxury resort in 37 years, is fit for a Queen! Her Majesty The Queen of England dined at The Point Restaurant, Tucker’s Point Hotel & Spa’s signature fine dining restaurant on Wednesday, Nov. 25. Executive Chef Serge Bottelli, who has been praised by The New York Times and Bon Appetit, prepared the following menu: sweet corn soup as an appetizer, pan fried Bermuda Rock fish in a lemon butter sauce with roasted new potatoes, island grown young carrots, broccoli, squash and a Bermuda cassava pie.Tucker’s Point Hotel & Spa opened in April 2009 as the capstone of Tucker’s Point Club, Bermuda’s premier resort, private club and residential community. Its debut marks a renaissance of Bermuda tourism, while at the same time evoking all the charm of Bermuda’s halcyon days.www.tuckerspoint.comlast_img read more