The article discusses the future of the international monetary system and the role of reserve currencies. It suggests that there is no urgent need for a new allocation of Special Drawing Rights (SDR) to address global liquidity issues. While European monetary unification may impact the demand for reserves, it is unlikely to cause significant instability. In a world with a single global currency or currency blocs, the need for international reserves may decrease. The potential role of SDR in a world with a single global currency is seen as remote.