Dr Richard Cooper, professor of International Economics of Havard, said in the second day of the seminar the "Asia:Back to Basics?" that the liberalisation of financial market in the countries facing with crisis can not go along with the flotation of exchange rate because it will lead to unstability of currencies and eventually residents change to hold foreign currencies instead. 

His opinion is contrary to the International Monetary Fund's (IMF) requirement which want countries to accept its rescue program to liberalise financial markets and manage flotation of currencies. 

Meanwhile, Bangkok Bank Chairman of the Executive of Board Kosit Panpiemras said Thailand must balance capital movement and productivity, which were the major problems of the turmoil, to sustain the recovery. 

BY ORANAN PAWEEWUN 

The Nation