Connect with us

Phuket

Thailand weakened, but government stronger after riots

Published

 on 

Thailand weakened, but government stronger after riots | Thaiger

PHUKET: Prime Minister Abhisit Vejjajiva announced yesterday that the state of emergency would remain in place even though the authorities had managed to bring the anti-government protests to a tentatively peaceful conclusion.

“The situation has eased and is almost back to normal. But the mission of the emergency decree has not been completed. The government will not be careless, and we will be monitoring the situation closely,” he said in a nationally televised address.

Abhisit said military officers, police and civil servants would remain on alert for possible ongoing attacks on public property.

He also declared tomorrow and Friday as public holidays, extending this year’s Songkran break to an unprecedented 10 days.

The long holiday began last Friday when the government designated it a public holiday after the red shirted protesters blocked Victory Monument and caused traffic chaos in Bangkok.

The ramifications for the economy of a ‘developing’ country suffering a 10-day cessation of productivity have yet to be revealed, but  international ratings agency Standard & Poor’s [S&P] has lowered Thailand’s local currency rating from “A” to “A-“, saying the outlook was negative and that the rating could be lowered further. The country’s foreign-currency rating remains unchanged at “BBB+”, with a negative outlook.

The local-currency rating is an assessment of the probability of default on local currency obligations, while the foreign-currency rating evaluates the probability of default on foreign currency obligations (taking into account all sovereign risk and currency conversion considerations).

It was not immediately clear how much of yesterday’s S&P downgrade of Thailand’s local currency was attributable to political strife, and how much was seen as direct economic damage arising out of loss of productivity and the widespread destruction of public property.

But the massive blows to Thailand’s economy and national image in the world appear to have caused severe erosion in the number of Thais who show sympathy for fugitive former prime minister Thaksin Shinawatra and his mob of protesters. Not only did legions of ordinary citizens turn against and physically assault the rioters, forcing them to shed their red shirts out of fear for their lives, but results from a poll of 1,207 people conducted yesterday by Rajabhat Suan Dusit University showed 64 per cent satisfied with how the government dealt with the crisis.

As for the political capital of the convicted former prime minister, most pundits in this morning’s newspapers were looking at a much diminished, if not spent, force. But the Phuket Gazette is not so sure. Events on the political front over the past four years suggest a profound and enduring need to hedge bets on all things that matter here in the Land of Endless Surprises.

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Crime7 hours ago

Fans stage simulation of Tangmo’s death in protest of law activist’s defamation case

Thailand8 hours ago

Thai road sweepers get safer new uniform for work

Thailand8 hours ago

Thailand News Today | Police patrol Pattaya Beach looking for guns, booze, prostitutes

Sponsored17 hours ago

Starting a business and obtaining SMART Visa in Thailand is easy with Startup Booster

Phuket8 hours ago

4 Chinese fishermen lost at sea rescued near Phuket

Pattaya8 hours ago

Two lost children found on Pattaya’s Walking Street

Guides8 hours ago

5 underrated apps you need to use in Thailand this year

Join the conversation on the Thaiger Talk forums today!
Phuket9 hours ago

Cheeky Taoist procession spices up Phuket’s veggie fest

World9 hours ago

Avalanche strikes mountaineering team in Indian Himalayas, 4 killed

Cannabis10 hours ago

Can foreigners legally grow cannabis in Thailand?

Tourism10 hours ago

1-billion-baht tourism stimulus back on track

Thailand10 hours ago

Ordination ceremony concert goes on despite flood

Hot News10 hours ago

Flooding may impact Thailand’s tourism recovery

Road deaths10 hours ago

Young woman killed in hit-and-run in Chon Buri

Hot News10 hours ago

Myanmar youth artists hold art challenge to raise awareness of country’s plight

Entertainment11 hours ago

“One For the Road” film is Thailand’s 25th Oscar attempt

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending