First of all, the criteria for the grey list were that you needed to have 12 agreements in place. Then you'd be on the white list, but I would say that's just an interim measure.
What is really going on with those countries that enter into TIEAs is this. We're all members of the Global Forum, which basically performs peer reviews on each country, looking at their regulatory and legal frameworks to ensure they're able to exchange information. It has been done with Panama. A full report was published, a number of flaws were identified, and Panama said it would take corrective action. Then, after they do, they move to phase two, where we can then test the efficacy of their exchange of information under the agreements they have. Of course, they're all recent agreements.
All I'm saying is that the grey list was just a milestone; I think the real substance is to ensure those countries that sign agreements actually follow up. The Global Forum is there to ensure those agreements have integrity and are effective.