Redwood: Euro break-up is still a possibility

Redwood, chairman of the investment committee at Evercore Pan-Asset, said he is willing to miss out on near-term upside in European markets because he sees greater risks on the downside. “We are cautious euroland may see another nasty flare-up. We are prepared to miss out on a short-term rally because we think there are still deep-rooted problems there. There could be another lurch downwards,” he said. “I think a euro break-up could still happen – you cannot rule it out. Scandinavian and Latin American currency unions have broken up in the last century, and we saw the break-up of the ...