Challenges of adopting single currency in ASEAN However, assisting a single currency may be even more challenging than introducing it. Srinivasa Madhur (2002) indicate that ASEAN will encounter a number of limitations on the implementing of a single currency: the huge gap between the income level, insufficient of political policy and the weaknesses of financial sectors. First, there is a significant differences between the levels of economic development within the ASEAN countries. For instance, the per capita income of the worthiest country among the region, Singapore is 300 times contrast to the Myanmar, the poorest country in the region (Rorberto, 2004). As most of the ASEAN members came from middle or low-income countries, when common currency was introduced it will definitely hurt the poorer members like Myanmar. Take an example of Greece who currently suffer a debt crisis as it has adopted the single euro currency (Supalak, 2013). Yoong (2009) indicate that it is much difficulties to maintain a common monetary arrangement among these countries with such huge gap of income levels. A strong and robust financial systems and markets is a necessary requirements in order to sustain a common currency union (Madhur, Srinivasa, 2002). From the past 1997 financial crisis in Asian has exposed that there is not exists of region-wide organizations to deal with threats to the financial industry and a weak financial system could destroy an exchange rate regime such as a common currency arrangement. In addition, insufficient systems for regional reserve pooling together with the absences of regional organizations could be an additional series of limitations on monetary collaboration and single currency within the ASEAN nations. This is in contrast EU countries as it has set up entire gamut of organizations for example European Commission, European Central Bank and European