The political obsession with a better exchange-rate regime amounts to an invitation to private markets to make large amounts of money by betting against those central banks that are pressed by politicians to take a particular view of the exchange rate.
L’obsession politique concernant l’amélioration du régime des changes revient à une invitation faite aux investisseurs privés de spéculer en pariant contre les banques centrales qui subissent des pressions politiques pour influencer le taux de change.