In his contribution to the panel on the "Global Economic Outlook" in Davos on Friday 25th January, Mario Draghi spoke about possible actions of the ECB. He strongly hinted that the ECB could buy securitisations but noted that the market, at present, was basically "dead". However, he also stated that if regulations could distinguish between good and bad securitisations, the market may return. This indicates an ever increasing held view, amongst European policy makers, that the key to a return on the securitisation market lies, of necessity, in the bifurcation in regulatory frameworks between high quality securitisations and others. This in very much in line with positions advocated by PCS and the PCS mission. Mr Draghi's statements may be found here, starting at 18:15 with the key quote at 19:00.