Michel Barnier, the European Commissioner for Internal Market and Services, recently released a green paper that looks into reshaping the region's securitisation market and other ways to promote financing of the real economy. European banks welcomed the proposals. "We are very supportive of this green paper," said Rick Watson, managing director and head of capital markets at AFME. "With an increasingly constrained banking industry, securitisation is going to become an important means of helping to plug the funding gap. We need regulatory and public-sector measures which bring buyers back into the market."