13/03/2007 (Agence Europe) - The EU Court of Justice has confirmed the Commission's opinion that Italy has failed in its obligation to transpose Directive 2003/51/EC of 18 June 2003. The directive aims to modernise Community accounting standards for annual and consolidated accounts of banks, other financial establishments and insurance companies. On 1 January 2005, the deadline for transposition of the text, the Republic of Italy had not communicated any provisions along these lines to the...