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Euro crisis - biggest risk to Thai economy

The Nation

BANGKOK: -- The chronic crisis in the Euro Area is cited as the biggest downside risk for the Thai economy, as this could destabilise global financial markets and global economy, said two key committees of Bank of Thailand.

In their first joint meeting, the Monetary Policy Committee and the Financial Institutions Policy Committee agreed that volatility in the Thai financial market is iminent in the short term, on periodic tight demand and supply for foreign currencies. In the long term, Thailand would be inevitably affected when the euro crisis drags down the global economy.

In a statement, they said that policy options were discussed at the meeting to mitigate possible impacts on the stability of Thai economy and financial market. They also urged all parties to prepare for any change.

Generally, the committees considered the Thai economy remains in good health, thanks to solid fundamentals and the strong financial system. Liquidity is ample to support the economic recovery.

Today marked the first time that these two committees concoct the joint meeting. They exchanged their views on how to stabilise the financial system and jointly evaluatedsignificant risks to the financial system. Both saw the need in such collaboration, due to the interconnectedness in the macro-economic level and the financial markets. They hoped that the collaboration would lead to a combination of more appropriate and efficient policies. They are scheduled for at least 2 annual meetings, or more if necessary.

-- The Nation 2012-06-18

[batblaster]

If they do not try to offer a better exchange rate will be difficult, a lot of peoples are moving to other places that are more cheaper... Here in the last 4 years tourists lost the 30/40% of their changes due to the increase of the prices and the low rate.

[PattayaPhom]

If they do not try to offer a better exchange rate will be difficult, a lot of peoples are moving to other places that are more cheaper... Here in the last 4 years tourists lost the 30/40% of their changes due to the increase of the prices and the low rate.

But the low rate is due to Eueopean policies..not Thai,...take it up with those governments

[Naam]

If they do not try to offer a better exchange rate will be difficult, a lot of peoples are moving to other places that are more cheaper... Here in the last 4 years tourists lost the 30/40% of their changes due to the increase of the prices and the low rate.

But the low rate is due to Eueopean policies..not Thai,...take it up with those governments

personally i think that European politics are also responsible for global warming, tsunamis, earth quakes, the fact that the Thai Baht has greatly appreciated vs. the US-Dollar and last not least the low sex drive of Panda Bears.

[JeremyBowskill]

If they do not try to offer a better exchange rate will be difficult, a lot of peoples are moving to other places that are more cheaper... Here in the last 4 years tourists lost the 30/40% of their changes due to the increase of the prices and the low rate.

But the low rate is due to Eueopean policies..not Thai,...take it up with those governments

personally i think that European politics are also responsible for global warming, tsunamis, earth quakes, the fact that the Thai Baht has greatly appreciated vs. the US-Dollar and last not least the low sex drive of Panda Bears.

Its not just Panda Bears that are suffering from a low exchange rate, I have noticed my wifes sex drive seems to be 35-40% down in accordance with the GBP. Wonder if the 2 might be related in any way..............

[nongsangcity]

less money less honey i think

[yoshiwara]

IMHO the biggest risk to the Thai economy is the internal uncertainty posed by the Thaksin factor.

[kanderson]

what goes up must come down - or something :-)

Everythings goen to be all right (repeat)