Another straw in the wind? The Telegraph has looked at the books of RIT Capital Partners, the investment trust chaired by Lord Rothschild, and noticed that it is shorting the euro to the tune of £128 million—up sharply from its position earlier this year.
Sources close to RIT suggested that the position was not a dogmatic negative view on the euro as a currency, but rather a realistic approach on a currency that remains relatively weak.
It’s hard to say exactly just how telling this is. As a percentage of the fund’s total holdings, the position amounts to around 7%—not insignificant, but not an overwhelmingly large number either. But it’s certainly another vote of no confidence, much like EU leaders openly discussing contingency planning for the Euro’s demise.Time is running out for European leaders to do something decisive before these kinds of views start becoming the consensus opinion.