Dimon Sees Progress in Europe as Buffett Warns of ‘Fatal Flaw’

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon told analysts Europe is moving toward solving its financial crisis, while billionaire Warren Buffett said the region’s common currency is doomed to fail without an overhaul in how it works.

“You see progress, you know, two steps forward, one step back,” Dimon said today in a meeting in New York. Buffett, speaking contemporaneously in a Bloomberg Television interview from Sun Valley, Idaho, said European leaders face “major problems” and the 17-country euro area may not survive.