Los mercados en ascenso y la reforma financiera mundial

BERKELEY – Resulta apropiado que la próxima cumbre del G-20 vaya a celebrarse en Pittsburg, antiguo centro industrial de un país industrial avanzado, pues se ha permitido a los países avanzados fijar el programa para el fortalecimiento de los sistemas financieros. Aparte de schadenfreude , los mercados en ascenso han puesto poco en la mesa.

Los Estados Unidos insisten en la necesidad de unos requisitos de capital mayores. Los europeos reclaman una reforma de los procedimientos de compensación en el sector financiero. Si bien las dos propuestas son válidas, resulta como mínimo dudoso que sean suficientes para estabilizar nuestros sistemas financieros, peligrosamente inestables.

Lo que los mercados en ascenso pueden añadir a ese programa no está –dicho sea caritativamente– claro. Poco han dicho sobre cómo reformarían los sistemas financieros. Pueden sostener que no es un problema suyo: que la crisis de los dos último años se ha centrado en las economías avanzadas y que lo que se debe reformar son los sistemas financieros de dichos países.

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