Two Down, One To Go

[robaus]

Robaus 2 days ago in another thread...

>> If the present situation continues without fair elections, there will be..

1. travel warnings that will put a larger dent in the tourist trade,(probably in place already, so 3 out of 3 in reality)

2. foreign investors will get the jitters,

3. and western governments will cease co-operation with a military dictatorship...and Thailand's growth is stunted.

 

.. in today..

 

Baht slides as investors pull out $2bn

 

Thailand’s baht headed for this year’s biggest monthly slide as a May 22 military coup prompted global investors to pull about $2 billion from the nation’s stocks and bonds.

The currency slumped 1.3 percent in May to 32.80 at 9.54am in Bangkok, the worst performance in Asia, according to data compiled by Bloomberg. It lost 0.7% this week. The 10-year bond yield climbed six basis points since April 30 to 3.93%, according to data compiled by Bloomberg.

“Foreigners have been selling bonds and stocks as we still don’t know when elections will be held and there remains concern about how the situation will develop,†said Kozo Hasegawa, a currency trader at Sumitomo Mitsui Banking Corp. in Bangkok. “That weighs on the baht and the baht may maintain a weaker bias for now.â€

Global banks from Goldman Sachs Group Inc. to Morgan Stanley cut forecasts for Thailand’s economic growth after the nation’s political turmoil culminated in the military takeover. Southeast Asia’s second-biggest economy contracted 0.6% in the first quarter as demonstrations hurt production and tourism. Goldman now forecasts a 0.5% contraction for the whole year while Morgan Stanley sees zero growth.

http://www.bangkokpo...rs-pull-out-2bn

 

EU wants early elections

 

The European Union (EU) has warned Thailand that "only an early and credible roadmap for a return to constitutional rule and elections will allow for the EU's continuous support".

EU High Representative for foreign affairs and security policy Catherine Ashton's latest statement on Thursday showed that the EU is following developments in Thailand.

"Thailand must urgently restore the legitimate democratic process and the constitution, through credible and inclusive elections," said Ms Ashton.

She urged the military leadership to free all those who have been detained for political reasons in recent days and to end censorship.

“We call on all parties to exercise the utmost restraint. Respect for human rights and fundamental freedoms must be upheld," Ms Ashton said.

Diplomatic sources said the EU will be reviewing relations with Thailand. The EU-Thailand Partnership and Cooperation Agreement is not yet signed, and its ratification needs to be done by parliament and can therefore not proceed until an elected parliament is in place.

http://www.bangkokpo...acy-in-thailand

 

US already withheld cash (not much I know). I think by law US not allowed to donate funds and assistance to military dictatorships.

[Flashermac]

Baht slides as investors pull out $2bn

 

[robaus]

Baht slides as investors pull out $2bn

 

 

Perhaps Thais who lose their jobs may not quite share your enthusiasm.

 

[robaus]

Make that 3 out of 3

 

..and travel warnings usually means travel insurance invalid. Tourism 10% of GDP.

 

Better fix it soon, Prayuth...and fix it fairly!

 

http://www.bangkokpost.com/lite/breakingnews/413000/62-countries-issue-thailand-warning

 

 

62 countries issue Thailand warning

 

A total of 62 countries have issued travel advisories for their citizens planning on visiting Thailand, 19 of them with a red alert, according to the Foreign Affairs Ministry.

• Published: 1/06/2014 at 03:48 PM
  
• Newspaper section: breakingnews
  

The 19 countries which have issued a red alert - telling their people to avoid travelling to Thailand unless necessary - are: the United States, Spain, Italy, Finland, Russia, Greece, Hungary, Malta, Iran, Hong Kong, South Korea, Singapore, the Philippines, Malaysia, Laos, Cambodia, Vietnam, Croatia and Cyprus.

The 43 others have warned their citizens to exercise caution while in Thailand by closely monitoring the situation and not getting near to protest sites.

[Flashermac]

Wow, people in Laos are warned not to visit Nong Khai.

[waerth]

Most of these warnings have been in place since November/December last year

[jitagawn]

Headed back home tonite

[WorldFun]

umm is there a point behind this thread I wonder??

some game i'm nor aware of??

anyway congratulations if you got 3-3 draw

[robaus]

Thank you for your support, Worldfun.

 

[YimSiam]

Western governments don't give a damn about Thai democracy -- it's not ugly enough, Thailand does far too many favors to be slapped down, and everyone knows Thai coups aren't really real coups, more just a seasonal pruning back of the nation's democratic growth... Someone hosts your black site, you don't go stabbing them in the back over a little coup action...

 

Here's the US military aid response (and yes, that $85,000 dollars... ouch that must really hit Thai military in the pocket book!):

Question: What is the breakdown of FMF and IMET that has been suspended?

Answer: Immediately following the military coup in Thailand, the State Department announced that we are reviewing all U.S. government assistance to Thailand. We have suspended approximately $3.5 million in unspent and unobligated Foreign Military Financing (FMF) assistance to Thailand. Most FMF assistance to Thailand consists of training and education programs.

We have also suspended the International Military Education and Training (IMET) we provide to Thailand. Thailand receives approximately $1.3 million in IMET annually. We have suspended the remaining $85,000 of unspent funds this fiscal year while the Department undertakes a comprehensive review of assistance to Thailand. All IMET and FMF-funded courses for Thailand have been cancelled, and no further ones are planned. The Department does not currently expect to send home any Thai officers who are currently participating in educational programs in the United States. Thirty-three students participated in IMET programs in Fiscal Year 2013 (FY13).