 Part of the eco-socialist transition, in Kovel's eyes, is the reforming money to retain its use in "enabling exchanges" while reducing its functions as "a commodity in its own right" and "repository of value".He argues for directing money to "enhancement of use-values" through a "subsidization of use-values" that "preserves the functioning core of the economy while gaining time and space for rebuilding it".Internationally, he believes in the immediate cessation of speculation in currencies ("breaking down the function of money as commodity, and redirecting funds on use-values"), the cancellation of the debt of the Global South ("breaking the back of the value function" of money) and the redirecting the "vast reservoir of mainly phony value" to reparations and "ecologically sound development".