However, with respect to recoverables from reinsurance contracts against undertakings authorised in accordance with this Directive or having their head office in a third country whose solvency regime is deemed to be equivalent in accordance with Article 170, Member States shall not require the localisation within the Community of the assets representing those recoverables.

These victims silently suffer financial losses, a loss of reputation, emotional distress and the often difficult task of rebuilding their credit rating.

Firstly, the rules on admission to the occupation of road-transport operator, namely the three criteria of good repute, financial standing and professional competence; secondly, the rules on driving times and rest periods, for which the Commission has recently made a proposal for new, simplified and updated EU legislation.

16. Urges the ECB to make clear to member governments the importance which it attaches to its obligations not to provide monetary financing of public institutions (including national treasuries) directly through the extension of overdraft facilities or the purchase in the primary market of securities, and to make it clear that the "no bail-out" principle also applies to the acquisition of State funds on the secondary market, and in this context to highlight the potential dangers, either to the creditworthiness of Member States or to the credibility of the ECB, of excessive reliance by some governments on short-term funding at maturities ...[+++]of less than one year;

The aim of this procedure is to avoid the path of simple debt forgiveness which was, hitherto, an impassible psychological barrier and on the other hand might adversely affect the EC's reputation as a preferred creditor and, hence, its credit status.

Victims of identity theft may suffer significant financial loss as well as damaged reputation or credit ratings.