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Contribution à un ordre monétaire international tripolaire
Authors
Mohammed Germouni
August 12, 2020

En dépit d’une diminution du contrôle des changes, le cours d’une devise continue de se jouer, jusqu’ici encore, en fonction de l’importance du poids considérable des relations financières qu’elle permet et facilite. Autant la monnaie américaine demeurait la devise-clé, en raison de la puissance tant économique que sécuritaire qu’elle reflète, autant l’Euro et le Yen n’en sont pas moins bien présents, également, sur les marchés que dans les réserves monétaires des divers pays. Certes, chacune de ces importantes monnaies connait des difficultés qui lui sont propres et spécifiques.

Aucune devise internationale n’a pu offrir une éventuelle forme de relève au Dollar, un statut paradoxalement peu recherché et encore moins convoité, tant les importantes contraintes qu’il impose, rendant, de ce fait, la solution combinant les avantages des trois principales devises internationales, un cadre monétaire à la fois réaliste et efficace, à moyen terme, et, surtout, réducteur des nombreux risques planant sur l’ordre existant. Une telle configuration monétaire internationale, consacrant la forme « tripolaire » prévalant de fait, serait de nature à atténuer un risque global et réel pesant sur les échanges.

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