By Huw Jones LONDON (Reuters) - Reviving Europe's repackaged debt market to fund economic recovery will take years and hinge on a re-invention of the sector rather than quick regulatory tweaks, bankers and regulators say. The securitised debt, also known as asset-backed securities or ABS, is created by banks pooling mortgages, and corporate, auto or credit card loans and selling them to insurers, pension funds and even the European Central Bank (ECB). This could help wean the banks off cheap ECB money and provide funds that can be lent to other businesses, helping economies to grow. European officials will meet this month to discuss the market, which the ECB desperately wants back on its feet to help raise money for companies in the euro zone's flagging economy at a time when banks, traditionally the main source of funds, cut back on loans after the financial crisis.
Chief Palestinian negotiator Saeb Erekat will present plans to U.S. Secretary of State John Kerry on Tuesday calling for a time table on ending Israel's occupation of the West Bank and East Jerusalem, Palestinian officials said. Erekat and intelligence chief Majid Faraj will hold a series of meetings with senior officials in Washington in which they will press the case for Palestinian statehood, amid frustration after a year of talks between Israel and Palestinian Authority President Mahmoud Abbas collapsed in April.