A Single Currency for Pacific Islands

Regional integration has been the goal of Pacific Islands Forum, an intergovernmental organisation, ever since its inception in 1971. The Forum comprises the 14 Pacific island countries and the region's two advanced countries, Australia and New Zealand. The birth of a common currency, the Euro in 1999 in Europe for the initial 11 members, country Eurozone inspired the leaders to renew their efforts towards creating a single economic space for the region. A common currency for the region was proposed by the Australian Senate Committee on Foreign Affairs, Defence and Trade. This book examines the feasibility of a common currency from various angles including the well known optimum currency area criteria point of view.