Not going to happen. Canada is joining the EU and will sooner adopt the Euro than the US dollar - assuming it is interested in making a change at all. And Mexico is irrelevant.
C6H1206, congrats on running a decorrelated business. You will be doing very well in the difficult times that are coming our way. Not to pick specifically on Italy but its CDS traded in excess of 100bps last week. Good luck.
It's not that decorrelated. Our business depends in meaningful ways from constructions/real estate. Even we are surprised, but afterall in Italy we don't have a huge housing bubble like in UK, so I think we will suffer less. I've read in this thread that you are leaving London, because of bad economic/social conditions in UK http://www.elitetrader.com/vb/showthread.php?s=&threadid=135330 If you want to move to Italy, you are welcome, we are hiring: base salary 1000 euro/month, 1200 if you're skilled enough. I don't care about the CDS bullsh*t. Hedge funds are moving the markets without any consideration about fundamentals. They only trade what they imagine, and maybe what they read on the Telegraph...
1200 euros/month, yes baby. That's why Italians still live with their mummy when they turn forty. Thanks for your offer but 1200 euros/day do not even take me out of bed. I suggest you try your luck with Roms or Albanesi, they are not welcome from what I understand but are used to these sort of wages. Regarding where I end up once I leave London, it will need to be sunny, nice beaches, good infrastructure, low taxes, no wealth tax, little government debt... Possibly South-East Asia. I will keep a house in Rome for the food and because I'm in love with the place.
It seems that you are well informed, so I don't understand: didn't you know that the Euro banknotes are backed by the ECB - ALL OF THEM ? Didn't you know that the banknotes printed by an italian or spanish mint, are acknowledged by the ECB, just like those minted in Germany ? Didn't you know that the ECB is owned by the central banks of the single european countries ? E.g. Bank of Italy owns 12.5297% of ECB. Bank of France 14.3875% Bank of Spain 7.5498% http://www.ecb.int/ecb/orga/capital/html/index.en.html I'm curious: who are those "smart" people looking for where their euros come from and who's backing them ? It seems to me that they are not so "smart"
Since when is Canada joining the EU?? I'm Canadian, and I don't think we'd be interested in doing that. We have solid banks, sensible mortgages, decent government, surplus budgets, and more oil than all of Europe and the US combined. Why would we want to join the EU???