The Spanish Presidency of the Council of the European Union has announced that a discussion by EU economy and finance ministers on the draft Alternative Investment Fund Managers Directive has been postponed.

The Spanish Presidency advises that discussion of the draft Directive was removed from the agenda in order to ensure the greatest level of agreement possible.

"We have made a lot of progress, and we want to go even further and ensure the maximum support possible", the Spanish Presidency’s spokesperson, Cristina Gallach, said in Brussels.

The discussion has been postponed until a meeting to be held at a later, still undefined, date, but will definitely take place during the six-month period of the Spanish Presidency, which finishes at the end of June.

View Spain puts itself forward for competitiveness test and decision on hedge funds is postponed, 16 March 2010