This requires meaningful engagement on the key issues such as: •  how can different national policies, including exchange rate regimes, be made to coexist within the international system? •  what are the respective responsibilities of the various nations to foster that compatibility?
•  what is the proper role for the IMF and other supra-national bodies, not just as occasional lenders to individual nations, but as custodians of the international system all the time? 8  BIS Review 101/2007  The recent “review” of the “1977 Exchange Rate Decision” by the IMF is a start on this discussion.