It's possible that Private Public Partnerships (PPPs), a structure used in Europe and endorsed by the European Investment Bank (EIB), will begin to appear as collateral in European collateralized debt obligations down the line. Fitch Ratings envisioned this development in a recent market summary piece.

A wave of countries will join the European Union on May 5, though adopting the euro will take some careful maneuvering as candidate countries may have mounting deficits that do not comply with the policy laid under the Maastricht criteria.

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