4  BIS central bankers’ speeches  3.  International provision of liquidity  •  The global financial crisis has revived the familiar concerns about the global reserve currency and the availability of liquidity in times of stress. •  The crisis has illustrated the threat to global stability because of a single reserve currency. Questions 1.
Are the risks of a single reserve currency being exaggerated? After all the world weathered the global financial crisis quite well even with a single reserve currency? 2. If not, how do we reduce those risks? How do alternate reserve currencies emerge? 3.