Just 22 votes out of 345 currently stand in the way of the European Union's proposed alternative investment fund managers directive, according to analysis drawn up by Financial News, as the heated political debate comes to a head, with a crucial meeting of the Council of Ministers scheduled for Tuesday, 16 March.

Those countries that wish to block the directive will have to muster 90 votes to do so. The UK, the directive's biggest opponent, has 29 votes. According to Financial News' calculations, the dissenters have 111 votes, which will be enough to get their way. But in the hothouse world of EU politics, this could change significantly between now and Tuesday. Financial News will be updating this as the debate evolves.