[Moved to DR at the February, 2014 meeting.]

Proposed resolution (January, 2014):

Change 6.9.3.2 [basic.start.static] paragraph 2 as follows:

...Constant initialization is performed:

• if each full-expression (including implicit conversions) that appears in the initializer of a reference with static or thread storage duration is a constant expression (7.7 [expr.const]) and the reference is bound to an lvalue designating an object with static storage duration, or to a temporary (see 6.7.7 [class.temporary]), or to a function;

• ...

According to 6.9.3.2 [basic.start.static] paragraph 2,

...Constant initialization is performed:

• if each full-expression (including implicit conversions) that appears in the initializer of a reference with static or thread storage duration is a constant expression (7.7 [expr.const]) and the reference is bound to an lvalue designating an object with static storage duration or to a temporary (see 6.7.7 [class.temporary]);

• ...

This wording, presumably inadvertently, excludes a reference to a function from being constant initialization.