ASEAN Single Currency, Difficult

The establishment of a single currency for ASEAN countries is difficult to be realized. Decision of the single currency requires a commitment and mutual understanding, both related to aspects of political, economic, social and cultural.

According to the Minister of Trade Mari Elka Pangestu, the decision to make the single currency raises a lot of consequences. For example, ASEAN central bank matter. Not to mention the matter of monetary policy.

"For now ASEAN is not relevant. It still takes a long time. The European Union alone took about 60 years," he said in Jakarta on Thursday (05/05/2011).

Responding to questions, the EU Trade Commissioner Karel De Gucht said, to be able to reach an agreement the single currency, Europe needs a long process. "We're still dealing with conflict, like yesterday with Portugal. For ASEAN, there are still gaps between countries members, certainly takes more time," he said.