If the inflationary consequences of using SDRs in this way are benign, it could be used to justify the additional, extra issuance of SDRs, say, every five years, again, with the commitment that developed-market countries would direct their share of the new reserves to the Green Climate Fund.

So, for example, the issuance of these extra SDRs every five years could be capped, such that this international currency is never more than five percent of global foreign exchange reserves.

With the cancellation of the "Teen Titans" and issuance of the hideously awful "Superman: Brainiac Attacks" simultaneously in 2006, I was sure I was witnessing the final end of the glorious reign of the intelligently-written and superbly-drawn and -scored sequence of DC superhero cartoons beginning in 1991 with Bruce Timm's Batman, and continuing on through the 1990s and 2000s with Superman, Batman Beyond, Static Shock, The Zeta Project, Justice League, and the "high anime" Titans.

In addition, Pak Nam-gi, the senior finance ministry official considered responsible for North Korea’s botched issuance of a new currency last year, has disappeared, and Kim Yong-il, North Korea’s prime minister, was fired on June 7.

Systemic reforms to resolve the problem all involve significant further integration: joint issuance of government bonds that play the role of safe asset in banks’ portfolios, a “banking union” with a common regime for deposit insurance, supervision, and crisis resolution – or both.

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