They can decide for themselves not to service their debts, to collect taxes inadequately, and – this is something I particularly fear in the case of Greece – to lead their country’s economy into deep trouble. The Greek government has not only walked out on the previous agreements, but has been widely criticised as an unreliable negotiating partner.
The FCA in the UK is considering how they might incorporate the Code in the Senior Managers Regime there. Conclusion We are on track to complete the Code so that it will be released in London in May 2017.