Combattre la peur

WASHINGTON, DC – Les restrictions sur les prêts interbancaires n’ont pas sitôt enregistré un allégement après le sauvetage des systèmes financiers déployé dans les pays développés, que la baisse des indicateurs économiques a fait chuter les bourses. Et, comme on exige le remboursement des prêts étrangers et qu’on cède les actifs, les pressions subies par les pays émergents, que beaucoup avaient cru “découplés” du reste du monde, se sont intensifiées.

Les consommateurs, les entreprises et les pays du monde entier sont en proie à la peur et on est passé, dans le langage, d’une récession moyenne des pays développés à une dépression mondiale aggravée. Le découragement est survenu, avec le sentiment qu’on ne peut rien faire pour enrayer les choses.

Que se passe-t-il? Les mesures prises, il y a deux semaines, pour affermir le système financier étaient-elles tout simplement mauvaises? Absolument pas. L’alimentation en liquidité, la recapitalisation des banques, une assurance des dépôts plus uniforme et étendue aux pays développés – toutes ces mesures étaient justes et indispensables. Mais il ne s’agissait que d’une première phase.

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