It appears there's an effort to restart the EU ABS market as apparently they did okay in '08 thanks to asset quality but now it's a dirty word.
Found this article interesting.. not that I agree with it.
http://bruegel.org/2014/07/asset-backed-securities-the-key-to-unlocking-europes-credit-markets/
A few economists wrote an open letter warning against buying RMBS as it might lead to a housing bubble.
