'No passion' for single currency
Play
Indonesian Trade Minister Gita Wirjawan on Monday affirmed that Asean had yet to embrace the "spirit" of adopting a single currency policy, a move already carried out by the European Union (EU) and the trigger for the Greece debt saga.
“There is no passion from Asean countries to adopt the single currency policy. In fact, there never was,” said Gita, who also chairs the Indonesia’s Investment Coordinating Board. He added that the spirit of Asean was slightly different than that of Europe when the latter adopted its single currency. According to Gita, Asean had learned from the Europe’s experience.
Meanwhile, the single currency discourse in Asean has been ongoing for some time, although many analysts believe the differences in economic conditions of each member would hamper the policy’s implementation.
