Should permanent membership and veto powers of the UNSC be abolished?

In the ongoing session of the UN General Assembly (UNGA), France has made a proposal to enhance the functioning of the UN, especially in dealing with collective security and the use of veto. France has been advocating that the use of veto in the UN Security Council (UNSC) be “regulated” when it comes to dealing with humanitarian crises such as in Sudan, Lebanon or in cases of genocide. France believes that the use of veto is not a matter of “privilege” but of “responsibility”. So, should permanent membership and veto powers of the UN Security Council be abolished? Amitabh Mattoo and Swaran Singh discuss the question in a conversation moderated by Kallol Bhattacherjee . Edited excerpts:

Is it realistically possible to imagine an UNSC where veto would be “regulated” as the French proposal suggested?