Buffett not interested in European banks - CNBC

REUTERS - Warren Buffett, often mentioned as a potential saviour for troubled European banks, said on Monday he has no interest at the moment in investing in that sector and that there is what amounts to a partial run on Europe.

The legendary investor and Berkshire Hathaway chief executive, in a CNBC interview, said he expected Europe's economy to have improved 10 years from now, but that getting there would be difficult.

Buffett, who put $5 billion into Bank of America earlier this year, comes up whenever there is talk of a large European bank needing to raise capital.

But he told CNBC he needed to understand those banks better before investing in them, and that he had not yet seen an investment opportunity there in which he wanted to take part.

In a wide-ranging interview, Buffett also said he expects that Republican Mitt Romney will be his party's nominee for president in next year's U.S. election. Buffett has recently been raising funds for U.S. President Barack Obama.

(Reporting by Ben Berkowitz; Editing by Derek Caney)