It is important for the EU and the US to unite
and lead the way forward on accounting standards convergence,
European Commissioner for Internal Market and Services Michel
Barnier has said.

Barnier was speaking on his first official
visit to the US, where he is working on co-operation between the
two economies.

Barnier said 2010 is the year for decisions on
convergence, while 2011 needs to be a year of implementation.

“I appreciate that the US authorities
have made progress towards convergence. But in the EU, we are
getting impatient.” said Barnier.

Barnier said a decision must be made soon
as the longer the wait, the more difficult it will be to reach an
agreement.

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