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Warren Buffett spoke earlier this week at the Economic Club of Washington D.C.  In a discussion with David Rubenstein, co-CEO of Carlyle Group he discussed a broad range of things including how he got into the investment business, his rejection from Harvard University, his relationship with Ben Graham and the story behind the early Berkshire Hathaway.

Buffett also discussed the current economic environment saying that the odds of a recession in the USA are “very low…unless events in Europe develop in some way that spills over here big-time.” He also added some thoughts on Europe saying that Europe needs to make a move in one way or another:

“They’re in on a common currency but they’re not in on a common fiscal policy or a common culture or common labor practices…They have to reconcile some of these things.”

See the full interview below:

Source: Bloomberg TV

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