IAS 39 still unacceptable says Euro official

"Difficult discussions [with the IASB] are continuing over the two standards," he said at last week’s Council of Economics and Finance Ministers in Brussels. The Council approved Bolkestein’s efforts to seek an agreement with the IASB, and invited him to continue to pursue the changes they deem necessary.

Financial instruments standards IAS 32 and 39 are due for adoption by all listed EU companies in 2005, but the commission fears they will cause excess volatility in financial statements,

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