Un nouveau Bretton Woods?

PRINCETON – Chaotiques et coûteuses, les réactions internationales au marasme financier ont poussé le Président français Nicolas Sarkozy, le Premier Ministre britannique Gordon Brown et le Président allemand Horst Köhler, ancien chef du Fonds monétaire international, à tenir une nouvelle conférence de Bretton Woods dans le but d’instaurer un nouveau système financier mondial. Pour aboutir, ce projet doit reposer sur une entente sans ambiguïté sur l’objectif de nouveaux accords.

Il n’est pas difficile de voir l’intérêt d’une réforme de l’architecture financière mondiale actuelle, puisque cette dernière s’est effondrée en grande partie. Les institutions existantes semblent de plus en plus inappropriées en période de croisière et inefficaces en temps de crise. Bien que le FMI ait produit des chiffres tristement précis concernant les coûts probables du fiasco immobilier aux Etats-Unis, son rôle est quasi inexistant dans la résolution de la crise actuelle. C’est la première crise financière internationale depuis la conférence de Bretton-Woods en 1944 où le FMI reste sur la touche.

Le rôle du grand protagoniste international revient au G7, dominé par des États européens de taille moyenne où les vives économies émergentes de l’Asie – actuelle source de l’épargne mondiale – ne sont pas représentées.

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