In an article published today by Suddeutsche Zeitung, (in German) it was disclosed that the German and French governments had worked on a joint-paper for the revitalisation of the European securitisation market based on high quality securitisation. The paper was prepared, it would appear, for discussion at the forthcoming meeting of the European ministers of finance taking place in Milan later this week. This is an important development in that it demonstrates that two of the key players in the European space – whose views on a number of broader economic topics could appear to place them at different ends of the policy spectrum - are now the joint champions of a return of a high quality securitisation market.
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