Life after Greece

7 April 2015 By Neil Unmack Follow @unmack1

Warren Buffett is among those who reckon a Greek exit could make the euro zone stronger. Losses are manageable, other countries won’t follow immediately, and the shock may even prompt excess debt to be tackled. But political and economic tensions would be dangerously magnified.

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Greece leaving the euro zone may not be a bad thing for the euro, Warren Buffett was quoted as saying in an interview on March 31.

“If everybody learns that the rules mean something and if they come to general agreement among members or something of the sort…that could be a good thing,” Buffett told cable network CNBC.

Greece must reach an agreement with euro zone lenders on reforms by April 24 in order to unlock funding, its Finance Minister Yanis Varoufakis said on April 6. Creditors rejected Greece’s list of proposed reforms on April 1, which included rowing back on labour reforms and increasing pensions spending.

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