09 Nov '11, 2pm

ASEAN leaders say Indo Common currency is not necessary for ASEAN.

JAKARTA - Top officials from the Association of Southeast Asian Nations (ASEAN) yesterday toned down talk about the region becoming a single-currency bloc like the European Union. "Less friction in the flow of capital, labour, and goods and services are more important than a single currency, which needs deeper thought given what happened in the EU," said Philippines Treasurer Roberto Tan at the ASEAN Finance Ministers' Investor Seminar. "Our target is to create an ASEAN Economic Community by 2015, in which we share and do economic activities together," Indonesia Finance Minister Agus Martowardojo said, adding that a common currency is not a necessity. South-east Asian officials have previously suggested creating either a single currency or a "currency-like" instrument to boost trade. However, this could be difficult to implement given that the countries in the 10-nation gr...

Full article: http://www.todayonline.com/Business/EDC111109-0000060/Sin...

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