Brexit  Wolfgang Schäuble was on a mini-roadshow in London, appearing at a couple of events to push the anti-Brexit case with characteristic toughness but uncharacteristic emotion.

First, the German finance minister appeared alongside George Osborne at a panel. Asked about his reaction should Britain decide to leave, he said: “We would cry … and I hope that we will not.”

Then, at a conference organized by the German British Forum, he urged Britain to go for “splendid integration” rather than “splendid isolation.”

“If the U.K. were to leave the EU, it would be very dangerous for the European Union, it would weaken the European Union … I can’t see that it’s in Britain’s interest for the EU to be weakened,” Schäuble said. “So please don’t.”

“Britain’s future lies in Europe,” he pleaded to an audience of British and German grandees before ending with a very British exhortation: “Go on, lead Europe!”

The prime minister’s biggest headache on Brexit is not Boris Johnson but “Red Jez”, as some papers call the left-wing leader of the Labour Party, according to professor Matthew Goodwin writing for POLITICO. His thesis is that, in order to win the referendum, Cameron needs to win over voters that are not natural Conservative supporters.

Changing Securitization in Europe  Four trade associations have issued a paper pushing for a swift reform of the moribund securitization market.

The four, the Association for Financial Markets in Europe (AFME), the European Fund and Asset Management Association (EFAMA), the International Capital Market Association (ICMA) and Insurance Europe, are broadly supportive of the European Commission’s efforts to revive the market but want more clarity and details on issues such as asset-backed commercial paper, disclosure and third-country deals.

Remember: The US subprime mortgage crisis began with the securitization of mortgages.

UK Life Insurers   The Financial Conduct Authority is concerned about the treatment of long-term customers who wanted to make changes to their policies. Here’s Sky News: “Prudential, Old Mutual, Abbey Life, Scottish Widows, Countrywide and Police Mutual are to be investigated by the Financial Conduct Authority.

“The FCA has been monitoring whether insurers have treated customers who are locked into pensions and other savings plans fairly, compared with new customers. Tracey McDermott, the FCA’s acting chief executive, said: ‘The practices at some firms appear to have been poor.’