Sorry to say this but I will not think that an Asean common currency based on the EU model is good idea.
There is a good book written by Jim Mellon and Al Chalabi for those who are keen to make sense of events unfolding around. I can't extract much but few lines.
"The whole of the so-called euro zone is vulnerable to what Leuven University's Professor Paul de Grauwe calls 'asymmetric shocks'. All of the euro zone countires pursue differing wage policies and these lead to divergent trends.
The problem for the euro is more complex than that for sterling; there are 21 countries that use the euro as their currency and all of them move at different speeds.
Some of these countries would be better off leaving the euro and reverting a competive exchange rate."
if we have asean currency, all ah nei money changers eat wind liao.
no lah, they can open hindi pubs