European Commission Vice-President Valdis Dombrovskis said today (27 January) that the goal of setting up European Safe Assets is to reduce banks’ exposure to sovereign debt. Speaking after the Ecofin Council, Dombrovskis said that work has been going on “for some time” on the concept of European Safe Assets at the European Systemic Risk Board (ESRB). As part of the board, the Commission has been involved in the project. The vice-president explained that the concept is about the securitisation of EU member states’ sovereign bonds. “We find this concept useful since it helps to address the issue of banks sovereign...