Securitisation is the process of transforming a batch of debts into a marketable security, that is backed by the original debts. This process can increase the availability of credit, increasing investment and supporting economic growth in a way that increases competitiveness and improves labour market.
This own-initiative opinion will present a thorough description of the challenges and opportunities that come with securitisation, and provide concrete policy proposals for a possible future revision of the securitisation regulation.
Adopted on 17/01/2024 - Bureau decision date: 24/10/2023
The EESC welcomes the simpler and more transparent economic governance framework, the reduction of the pro-cyclical bias, the improvement in national ownership and strengthened enforcement, the differentiation and more tailored fiscal adjustment path of each Member State, based on a common-risk framework. However, the Committee proposes replacing the requirement obliging any Member State with a budget deficit of over 3% to cut that deficit by an average of 0.5% of GDP annually, and emphasises that the "technical trajectory" should be first in the hands of national governments and, at a second stage, be the result of a technical dialogue with the European Commission In due course. In due time, but by 2026 at the latest, an EU fiscal capacity should be established to meet at least some of the investment needs for common priorities and to allow Member States the fiscal space to meet the fiscal costs of the multiple transitions.
EESC opinion: New economic governance rules fit for the future
