Plan to 'revitalise' complex financial products lacks clear target

The European Union is trying to “revitalise” a market for controversial financial products, but one of the goals appears to already have been achieved without the EU's help.

Securitisation is the packaging of loans, mortgages, or other contractual debts into securities that can then be sold on the market, together with the risk attached to those debts.

It had an instrumental role in the financial crisis of 2008, but the European Commission says giving the securitisation market a ...