AS TA went to pres the attempt by way of the EU Commission to persuade EU dominion representatives to accept international accounting standards onward derivatives was in the balance after a meeting forward 14 June resulted in four EU members--France.

AS TA went to pres the attempt by way of the EU Commission to persuade EU dominion representatives to accept international accounting standards onward derivatives was in the balance after a meeting forward 14 June resulted in four EU members--France, Italy, Spain and Belgium--vetoing IAS 39 Financial Instruments: Recognition and Measurement. The EU has ask fored governments to state their formal position in writing for the close of this month, leaving the 2005 start date for conversion to international accounting standards in disarray.

Following a meeting of EU finance ministers forward 2 June, the EU commissioner responsible for financial regulation had