By means of uniform rules, the managers' cost of compliance with diverging national requirements governing funds that invest in listed and unlisted undertakings and comparable categories of real assets is also reduced.

(12) The scattered and divergent regulation or the absence of regulation at national level as regards the gender balance on boards of listed companies does not only lead to discrepancies in the number of women among non-executive directors and different rates of improvement across Member States, but also poses barriers to the internal market by imposing divergent corporate governance requirements on European listed companies.

O. whereas tourism is increasingly regarded in our society as a social right, meaning that, on the one hand, the needs of some social categories should be taken into account (e.g. disabled people and the poorest in society), and on the other hand that there is a great additional potential needing to be developed in connection with retired people, young people and activities which are of minor importance at present but have bright future prospects, such as rural tourism, ecotourism, spa tourism and social work camps for young people, and which will help make tourism more than a seasonal phenomenon and will nurture mutual understanding be ...[+++]tween our peoples,

O. whereas tourism is increasingly regarded in our society as a social right, meaning that, on the one hand, the needs of some social categories should be taken into account (e.g. disabled people and the poorest in society), and on the other hand that there is a great additional potential needing to be developed in connection with retired people, young people and activities which are of minor importance at present but have bright future prospects, such as rural tourism, ecotourism, spa tourism and social work camps for young people, and which will help make tourism more than a seasonal phenomenon and will nurture mutual understanding bet ...[+++]ween our peoples,

There is an excess of unilateralism causing difficulties on the one side and there are weaknesses on the other side, namely our side – mainly our inability to make a military contribution – which generate the difficulties we see on a daily basis, some of which have already been mentioned.

On the other hand, as there is a considerable amount of money already raised (and not yet committed) for new investments, downward valuations have created new opportunities for liquid venture capital funds which could produce very high returns over the next 2-3 years.