Hence all parts of the market are being involved in the drafting of the Code to make sure all perspectives and insights are heard and appropriately reflected. At the global meeting of the Foreign Exchange Committees yesterday, the eight regional FXCs unanimously endorsed the first phase of the Code.
For more than three years now, the financial, economic and sovereign debt crisis has been the dominant topic in the European monetary union and, at the same time, its biggest test. Dated from the outbreak of the crisis on the US real estate market in the summer of 2007, this is already the fifth year in which we have been in crisis mode.