France, paradoxically, has neither made clear which problems global monetary reform is expected to solve, nor proposed a grand plan for such reform. Rather, it has taken topics one at a time, seeking to reach consensus separately on each: the completion of efforts undertaken by the 2010 South Korean presidency to strengthen multilateral liquidity-provision schemes; the strengthening of multilateral surveillance; the appropriate use of capital controls; and a change in the composition of the basket of currencies that comprise the International Monetary Fund’s Special Drawing Rights, a unit of account that was once expected to evolve into a global store of value.