The waiting game: How securitization became the solution for the growth problem of the Eurozone

  title={The waiting game: How securitization became the solution for the growth problem of the Eurozone},
  author={E. Engelen and A. Glasmacher},
  journal={Competition \& Change},
  pages={165 - 183}
This paper takes a closer look at those parts of the European Commission’s Capital Market Union (CMU) that bear upon the attempt to set up a new market for securitizations, called ‘simple, transparent and standardized securitizations’, in brief STS-securitization. The ‘puzzle’ at its heart is the discrepancy between narratives and content. While the narrative is about the construction of a US-style market-based financial system to overcome the problems of Europe’s bank-based system and help… Expand
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