Stabilisatoren stärken

PARIS: Der G20-Gipfel in Cannes Anfang November ist eine wichtige Gelegenheit, sich mit dem Mandat, der Steuerung und institutionellen Kapazität des Financial Stability Board (FSB) zu befassen, jenes internationalen Gremiums, das das internationale Finanzsystem überwacht und Empfehlungen zu seiner Verbesserung abgibt. Der Termin des Treffens ist insbesondere deshalb günstig, weil das FSB in Kürze unter neuer Leitung stehen wird, da sein gegenwärtiger Vorsitzender Mario Draghi im November die Präsidentschaft der Europäischen Zentralbank übernimmt.

Die G20 richteten das FSB inmitten der Finanzkrise der Jahre 2008/2009 ein. Es baut auf dem vorherigen Forum für Finanzstabilität auf und hat die Aufgabe, dringende internationale Bemühungen zur Regulierungsreform zu koordinieren, um mehr Finanzstabilität und global einheitliche Regeln zu gewährleisten. Angesichts der Herausforderungen des globalen Konjunkturabschwungs und der Finanzkrise, mit denen sich die G20 derzeit herumschlägt, bleibt das Mandat des FSB von zentraler Bedeutung für das Ziel einer substanziellen Finanzreform – und auch, um in Bereichen, die für die Stabilität des globalen Finanzsystems wichtig sind, nationale und regionale Unterschiede zu vermeiden.

Es wird kritisiert, dass dem FSB die Fähigkeit, Zwangsmaßnahmen durchzusetzen, fehlt. Doch in der heutigen Welt souveräner Staaten sind Verträge, die neue internationale Institutionen mit supranationalen Befugnissen hervorbringen, keine realistische Alternative. Zudem hat das FSB bedeutende Leistungen vorzuweisen. Seine Agenda wird rasch größer, und es ist dabei, sich zu einer einflussreichen und dauerhaften Komponente der internationalen Wirtschafts- und Finanzarchitektur zu entwickeln, auch wenn bezüglich seiner Zukunft schwierige Fragen bestehen.

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