The invention relates to water-dilutable binders which can be produced by radical polymerisation of (A) 20 to 90 wt % of a mixture of (a1) 3 to 50 wt % acrylic acid and methacrylic acid and (a2) 50 to 97 wt % of an ethylenically unsaturated monomer or a mixture of such monomers in the presence of (B) 9.9 to 79.9 wt % of a halogen-free polyolefine or a mixture of halogen-free polyolefines and of (C) 0.1 to 10 wt % of a radical binder or a mixture of radical binders, and by dispersion in water of the polymer obtained after neutralisation of at least 20 % of the carboxyl groups contained in the polymerisation product.
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