Brussels, 28/09/2010 (Agence Europe) - On Tuesday 28 September during the annual conference of the French think tank, Eurofi, Belgian Finance Minister Didier Reynders set out the details of the recent compromise proposal put forward by the Belgian Presidency on handling alternative investment funds from third countries. The compromise proposal is a “major step” by the Council, he said. Turning to the joint president of Eurofi and former governor of the Bank of France, Jaques de Larosière, he acknowledged “the French needed to be convinced”. In a proposal to be discussed for the first time during Wednesday's Council, the Belgian Presidency suggests a European “regulated” passport system should be set in place for third country funds (see EUROPE 10223). On the subject of the scheme applicable to holders of alternative investment funds, the president-in-office of the Ecofin Council underlined the importance of finalising equitable rules of the game for these financial players. He went on to say how difficult it was to reconcile the contradictory views that have been expressed by the European Parliament committee on economic and monetary affairs and the committee on legal affairs on the question of private equity funds. (M.B./transl.jl)