They were the superstar and the fuel in the fire during the last financial market crisis just over a decade ago: securitized securities. Now top politicians in europe, such as the German Finance Minister Christian Lindner, are calling for the now dormant market to be revived. Apparently, they are relying on the effect of forgetting and the short-term memory of investors, as it was precisely these paper structures that are hiding risks perfectly that massively accelerated the last financial market debt crisis in Europe.

The European Union and its underlying euro system are desperately looking for new vehicles to bring new credit into the world. Securitizations are therefore likely to soon take their place alongside eurobonds, the introduction of which is probably only a matter of time.