I wrote a year back regarding Thailand’s Festive Coup which led to then President Thaksin being oust. Since then Thaksin has being busy traveling around Europe, various parts of Asia and even being in the news a lot over in England where he is contemplating buying up a Premiership soccer team, Manchester City
Yesterday, news report that the Thai Police have “ordered exiled former prime minister Thaksin Shinawatra to return to Thailand to face charges that he concealed his ownership of millions of dollars worth of shares from the Thai stock exchange. The order that he report by June 29 came just a day after state prosecutors said they would seek to have him and his wife tried for a suspicious land deal, and an anti-graft panel ordered 8 billion baht (HK$1.8 billion) more of his assets frozen.”
I seriously think that Thaksin’s return to Thailand will result in a media circus that will hurt Thailand in the eyes of investors. In fact, once the news was out, the Thailand Stock exchange promptly dropped 1.4% in fears of violence. The one redeeming factor on this is that there is always a trump card which Thailand have that not many nations can count on in terms of a national crisis. Thailand has a monarch that is revered across the nation and if anything gets overboard, he can come out and calm the nation down.
There are probably many more twists in this continuing saga since Thaksin retains a healthy support in Thailand.
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