If a single currency in Asean looked far-fetched before, it looks positively absurd in view of the stresses afflicting the eurozone today. “Asean leaders are watching what’s happening in Europe extremely carefully now,” says Helman Sitohang, chief executive, southeast Asia, at Credit Suisse. “It may provide some good lessons about how far you should push cooperation and integration.”
A single currency is not on the agenda. You won’t find it in the long-term visions of Asean mission statements or ADB ambitions.
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