The Security Council knows it has to reform.  All the Security Council members know that at some point there is going to have to be reform of the council. This will most likely mean more members being admitted to the Council. The three countries whose grasp on the Security Council is tenuous due to their relative power having declined; UK, France and Russia, will likely be willing to give up their veto in order to retain their seats. The United States and China would then have to follow or face the rest of the international community and devalue the United Nations. A half-way house would probably be agreed where the veto could be retained in a few areas much as it has been within the European Union decision making process. This could then be slowly eroded over time.