Southeast Asia considers single currency, Bank Indonesia governor says

[News_Editor]

Southeast Asia considers single currency, Bank Indonesia governor says

2010-12-11 11:42:42 GMT+7 (ICT)

DENPASAR, INDONESIA (BNO NEW) — Bank Indonesia governor Halim Alamsyah has said the Southeast Asia region could consider an eventual currency convergence to strengthen the region's economy and facilitate international transactions.

Alamsyah was interviewed on the sidelines of a seminar with regional central bankers, and stated that a number of cross-border issues among neighboring countries could be resolved if a single currency was applied in the Southeast Asia region.

"But it will take a lot of time. By 2015, there will be a Southeast Asian common market, and if it succeeds a single currency is possible. But before that, we need to converge the economies," Alamsyah was cited by the Jakarta Post.

The statement was seconded by Karunasena, executive director of the South East Asian Central Banks Center, adding that a number of pre-conditions would have to be reviewed before applying a single Southeast Asian currency.

"At the moment, regional pooling and other initiatives are more practical and easy to work," Karunasena stated.

-- © BNO News All rights reserved 2010-12-11

[gotlost]

The EURO is headed for a fall. The GCC http://en.wikipedia.org/wiki/Cooperation_Council_for_the_Arab_States_of_the_Gulf has been advocating this for years but still pity BS keeps getting in the way so SEA stands no chance on this idea.

[LaoPo]

The EURO is headed for a fall.

I don't think so

And, for SE Asia...maybe in 20-30 years.

LaoPo