Meyers Item 4 Singleton in presence of threading

[Patrick Horgan]

In Scott Meyers' Effective C++ Item 4, Scott recommends 
using something like:

T& getaccess()
{
     static T localT;
     return localT;
}

so that a static local is used instead of a static 
global to access the global object and you can be sure 
it's initialized before used.

What happens in the presence of threading?  What if two 
threads enter getaccess and exit in different orders?  
I'm ignoring here any threading issues that a T itself 
may have, and only thinking about the local static 
initialization itself.

Would the local t get initialized more than once?

The language says that t would only be initialized the 
first time the routine is called, so if the first one 
sleeps and a second one gets in and out before the 
first thread gets rescheduled, can it return a 
reference to localT before localT is initialized?

Patrick