MMF znovu selhává

Od osudové schůzky Mezinárodního měnového fondu těsně před vypuknutím celosvětové finanční krize uplynulo šest let. Byl jsem u toho. Schůzka to byla opravdu podivná. Pozorným lidem bylo zřejmé, že se na obzoru rýsuje krize. Příčinou byla liberalizace kapitálových trhů a otevření se jednotlivých zemí vrtochům mezinárodních kapitálových toků - iracionálnímu pesimismu i optimismu, nemluvě o manipulacích spekulantů.

Přesto MMF stále lobboval za změnu svých stanov, která by mu umožnila nutit státy k liberalizaci kapitálových trhů, a ignoroval důkazy, že tento postoj nevede ke zvýšení růstu ani k posílení investic, nýbrž pouze k další nestabilitě. Krize, které propukly tentýž rok o něco později, podkopaly důvěru v MMF a vyústily v diskuse o ,,reformě celosvětové finanční architektury".

Nyní, o šest let později, již lze prohlásit, že tyto diskuse nevedly k žádným podstatným změnám. Někteří lidé naznačují, že onen vzletný výraz ,,reforma celosvětové finanční architektury" byl jen plácnutím do vody. Americké ministerstvo financí i MMF věděly nebo alespoň doufaly, že s pominutím krize se pozornost celého světa upře jinam. A zatímco se obě instituce v otázce řešení krize mýlily, v tomto bodě měly pravdu.

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