Q&A: Benoît Coeuré, ECB, on securitisation and clearing risks

Revamped ABS market will need state support if it is to be a game-changer for Europe

Benoît Coeuré, member of executive board, European Central Bank

Europe's taxpayers and politicians may not like the idea, says Benoît Coeuré, a member of the executive board at the European Central Bank (ECB), but if they want asset-backed securitisation (ABS) to really boost the economy, then the state will need to provide some kind of guarantee to the market.

"This is obviously not a decision that falls under the remit of the ECB, because it is not our money and, at the end of the day, it's shifting risk to public balance sheets, so it has to be a

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