Renforcer les organes de stabilité

PARIS – Le sommet du G20 qui aura lieu à Cannes début novembre constitue une opportunité majeure d’aborder le mandat, la gouvernance ainsi que les capacités institutionnelles du Conseil de stabilité financière, organisme international en charge de contrôler le système financier international et de délivrer des recommandations pour son amélioration. La réunion est particulièrement opportune dans la mesure où le CSF connaîtra bientôt une nouvelle direction ; son président actuel, Mario Draghi, prenant en charge à compter du mois de novembre le rôle de président de la Banque centrale européenne.

Au cour des tumultes de la crise financière de 2008-2009, le G-20 a instauré le CSF, en s’appuyant sur son prédécesseur, le Forum de stabilité financière, et l’a chargé de la coordination des efforts urgents de réformes réglementaires internationales afin d’assurer une plus grande stabilité financière ainsi qu’une cohérence mondiale des régulations. Tandis que le G-20 lutte avec les défis du ralentissement économique mondial et de la crise de l’euro, le mandat du CSF demeure primordial dans le cadre d’un agenda substantiel de réformes financières – et pour éviter les divergences nationales et régionales dans les domaines critiques liés à la stabilité du système financier mondial.

Le CSF a été critiqué pour son manque de capacité à s’imposer. Toutefois, dans un monde composé d’États souverains, des traités créateurs de nouvelles institutions internationales aux pouvoirs supranationaux ne sauraient constituer une alternative réaliste. Par ailleurs, les accomplissements du CSF sont considérables. Son agenda ne cesse de croître, et l’entité devient progressivement un élément influent et permanent de l’architecture économique et financière internationale, alors même que plusieurs interrogations difficiles planent autour de la question de son avenir.

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