16/09/2003 (Agence Europe) - The European Commissioner for financial services, Frits Bolkestein, is expected to meet IASB President, David Tweedie, in a fortnight. The IASB is in charge of elaborating international acconting standards, indicated the Commissioner this weekend in Stresa. He is hoping to push forward discussions on standards 32 and 39 involving the processing of financial instruments in consolidated accounts of companies quoted on the stock exchange. The Europeans are opposing the draft for standards 32 and 39 and refused to adopt them at the same time as the other international accounting standards last July. Banks and European insurance companies fear that the inclusion into the prices directly emanating from the market for products derived from consolidated company accounts would cause to much volatility in their own capital. Commissioner Bolkestein declared that, "If no agreement is obtained, convergence of European and US standards will be under threat".