Is Indonesia ready for single currency?

Wouldn't life be much easier if the prices of basic necessities were the same as before the monetary crisis? Wouldn't it be nice to have money in the bank for unexpected expenses like healthcare?

These things would all be possible if Indonesia had sound economic and social policies. After several years of trial and error, Indonesia is slowly getting back on its feet.

What can be done to speed up this process and ensure that all Indonesians benefit from this economic growth?

With a new president in charge, people can only hope and pray that corruption will be reduced so that the daily life of Indonesians can be improved and they all get an equal chance to access education, thereby improving the quality of their own lives and the lives of their families. Also, when sick, people will be able to go to the hospital and get proper medical care at an affordable price.

All the basic necessities mentioned above should be available to all the people on the Earth, but for a developing country like Indonesia and other countries in the Southeast Asia region, most of these needs cannot be obtained due to endemic poverty.

Money makes the world go around, and even though it is not the most important thing in life, it has long been one of life's necessities.

Indonesia is one of the poorest countries in the Southeast Asia region and, therefore, it is very difficult to improve the lives of all Indonesians. Choices need to be made in order to improve the standard of living, and it takes a strong and determined president who is not afraid and, more importantly, is willing to do everything in his power to make these choices.

So, what choices can our president make? What can he do to improve the standard of living? When thinking about these questions, we may differentiate between the short-term and long- term advantages that may be gained. In the long run, a single currency for the Southeast Asian Region could benefit Indonesia. A single currency would improve Indonesia's negotiating position on the international market and attract foreign direct investment due to lower risks associated with exchange rates.

This may all sound good on paper, but it has also proved successfully in practice. Since the adoption of the single currency in the European Union, the smaller and weaker economies have benefited the most.

KNUT J. MO Surabaya