Indeed, the need for greater regulatory independence is a compelling reason for establishing an international financial regulator, another topic the G20 conspicuously avoided. We recognise that international financial institutions are far from perfect. Nevertheless, a well-endowed, professionally staffed international financial regulator – operating without layers of political hacks – would offer a badly needed counterweight to the powerful domestic financial service sector lobbies. The independence argument is in addition to the well-recognised need for better mechanisms for co-ordinating regulation to reduce regulatory arbitrage in a world of global capital markets.
的確，增強監管獨立性的需要，是成立國際金融監管機構的有力理由——這是G20明顯回避的另一個話題。我們承認，國際金融機構遠非完美。然而，一個財源充足、由專業人士組成的國際金融監管機構——其運作不受各層政治仆從的干涉——將提供一股亟需的、與強大的國內金融服務業游說團體相抗衡的力量。人們充分認識到，在全球性資本市場的環境下，有必要完善國際協調監管機制，以減少監管套利行為。除此之外，獨立性也是成立國際監管機構的一個理由。