MNI BRIEF: Securitisation Key To Securing EU Safe Haven Status

Accelerating the implementation of the EU's Savings and Investments Union, and in particular securitisation, is key to securing Europe's newly won safe haven status, the EU's Polish Presidency said Monday. 

"The global economic turbulence of recent weeks associated with the risk of a large-scale trade war highlight Europe's emerging role as a safe haven," Polish Finance Minister Andrzej Domanski writes in a letter to fellow EU finance ministers, noting the need to "act urgently."

The securitisation agenda will enable banks to transfer risks to parties better able to shoulder them and so allow them to provide additional finance to consumers and SMEs, Domanski says. EU finance ministers will meet in Brussels on Tuesday.