Brussels, 29/09/2010 (Agence Europe) - European finance ministers and national central bankers, meeting informally in Brussels on Thursday 30 September and Friday 1 October, will discuss an agenda given over to a number of international issues. They will take stock of the economic situation in the euro area, the European Union and internationally. They will discuss the European stance which G20 members will defend at the Seoul summit in November, where inter alia a position will be taken on the Basel Committee decisions which strengthen bank solvency ratios (see EUROPE 10213). Over lunch, discussion will turn to the procedure for appointing the president of the IASB, an international body responsible for setting international financial reporting standards (IFRS) in force in the EU. Europe is arguing for greater involvement in IASB governance of the public authorities which apply IFRS. At the request of the Belgian Presidency, European Internal Market Commissioner Michel Barnier will present a comparison of the regulatory reform of the financial sector in the EU and in the United States. On Friday morning, credit rating agencies will attend breakfast with ministers. In June the European Commission proposed that rating agencies authorised in the EU be supervised by the new European Financial Markets Authority (see EUROPE 10151). The Ecofin Council will also discuss how the financial sector can contribute to repayment of the costs of the crisis. (M.B./transl.rt)