Former Thai Finance Minister Pridiyathorn calls Yingluck a failed government

[webfact]

Pridiyathorn calls Yingluck a failed government



BANGKOK: -- Former finance minister Pridiyathorn Devakula today called Yingluck administration a failed government which can no longer stay in office to bring peace and order back to the country and regain confidence from the people and foreign investors.

He cautioned that any ambition to stay on in office could bring the country to catastrophe.

He urged her to devote by stepping down, saying this would help the country out of the expected catastrophe if she insisted to hang on to the job.

The former finance minister said in his open letter to the caretaker prime minister that she has failed in various aspects in running the country.

He said economic growth declines, investment confidence dampens and her popularity plunges, all indicating to her government’s failure in performing duties.

He said that what Yingluck could do now was to devote herself to help the country out of the crisis by resigning which could do so under the constitution.

But if she insisted to stay on, he cautioned the country could turn to catastrophe.

Source: http://englishnews.thaipbs.or.th/pridiyathorn-calls-yingluck-failed-government/


-- Thai PBS 2014-02-06

[MGP]

Here is part of that letter from Pridiyathorn to YL

source: @Phil_Prajya_NTV

You can find all the pages here: https://twitter.com/Phil_Prajya_NTV

Edited February 6, 2014 by MGP

[Patje]

Can someone enlighten my in what party he is or was ?

Then I will understand more

[webfact]

Pridiyathorn calls for Yingluck to resign
The Nation



BANGKOK: -- Former Bank of Thailand governor Pridiyathorn Devakula on Thursday called for caretaker premier and the government to resign, saying they are failed government.

Their major projects including rice-pledging scheme and solar cell have failed and no one now trusts them anymore.

Pridiyathorn, also an ex-finance minister, issued an open letter to Yingluck Shinawatra and her caretaker government.

He states that all economic transaction has dropped seriously. He said Yingluck should allow a setting up of central government that is acceptable by every party.


-- The Nation 2014-02-06

[MGP]

Can someone enlighten my in what party he is or was ?

Then I will understand more

Try to read it without prejudging or using stereotype labels, and sincerely decide if his words are making sense or not.

The 8 pages are here: https://twitter.com/Phil_Prajya_NTV

[uty6543]

Can someone enlighten my in what party he is or was ?

Then I will understand more

Facts are facts no mater which party he is or was.

[Snig27]

The anti-govt mob are getting increasingly desperate, what with the ongoing run of appalling press the protesters and the Dems are getting internationally, the collapsing numbers etc. It ain't worked and mild panic is setting in.

[Psych01]

Can someone enlighten my in what party he is or was ?

Then I will understand more

Here is a Wiki on him. http://en.wikipedia.org/wiki/Pridiyathorn_Devakula

[siampolee]

The man is a highly respected figure within the international financial community and as such his comments will and do carry weight.

Yinglucks ineptitude is due to her brothers manipulation of what passes for her though process and subsequently the policies implemented are designed to enrich the Shinwatra family not the country.

The sooner this woman and that odious creature her brother depart from the Thai political scene (and hopefully Thailand too) the better for both Thailand and the Thai people.

Never have so many been screwed by so few.

[kikoman]

I find his statements very self serving or "Suthep" serving, it is of the utmost importance that Yingluck remain PM until after the official announced vote is made public.

If she is not wanting to continue as head of state inform her party before the appointment of a vote for the new PM!

Democracy in Thailand needs her, to survive the onslaught of the rich elites plans to take over with a Undemocratic unelected government with the backing of the military.. The only way that can happen (without a coup) if she resigns, and causes a "power vacuum" that can be exploited by the fascist!

Hang tight, Yingluck you have much support in the country!

Peace

[Snig27]

Can someone enlighten my in what party he is or was ?

Then I will understand more

Here is a Wiki on him. http://en.wikipedia.org/wiki/Pridiyathorn_Devakula

http://en.wikipedia.org/wiki/Pridiyathorn_Devakula#Deputy_Prime_Minister_and_Minister_of_Finance is the most enlightening there (aside from his parentage). He's an old school scoundrel with a decidedly patchy period as appointed FM, dodgy dealings to his name, vast inherited wealth - perfect fodder for Suthep's Council.

Isn't the undue influence of someone like him the sort of thing proper reforms would seek to lessen in a democracy?

[MGP]

The anti-govt mob are getting increasingly desperate, what with the ongoing run of appalling press the protesters and the Dems are getting internationally, the collapsing numbers etc. It ain't worked and mild panic is setting in.

Regarding the "appalling press": the Wall Street Journal has honored Ms. Yingluck Shinawatra with an appealing article:

Thai Effort to Control Rice Market Backfires

http://online.wsj.com/news/articles/SB10001424052702304428004579352590377530118?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304428004579352590377530118.html

She has also been repeatedly warned by the IMF, WTO, and the Worldbank.

Wall Street doesn't care about family surnames or your political affiliations. They only see the color of money, and if the Shinawatra policies are not profitable in the long term, they will stop supporting his regime.

[Snig27]

The man is a highly respected figure within the international financial community and as such his comments will and do carry weight.

No he's not - quite the opposite. He trashed the SET with his mishandling and was removed under grey circumstances.

Just one quote from that wiki:

Pridiyathorn instituted capital controls to attempt to reverse a strengthening of the baht, but reversed the measure after the Thai stock market crashed, destroying US$20 billion of market value in one day. Pridiyathorn later noted that “This was not a mistake. Measures always have side effects. Once we knew the side effects, we quickly fixed it.... Just one day of stocks falling is not considered much damage.”^[11] He came under harsh criticism. Bratin Sanyal, head of Asian equity investments at ING in Hong Kong noted, "The one thing worse than an incompetent central bank is an incompetent central bank that flip-flops." Catherine Tan, head of Asia Emerging Markets at Forecast in Singapore, noted, "They are proving themselves to be very unprofessional. Their actions are very irresponsible. They have totally lost credibility... I don't see foreigners returning to Thailand any time in the near future. Markets now have no confidence in the government."^[12] The Export-Import Bank of Thailand also criticized the capital controls.

The international financial community have already made their feelings known via publications like WSJ, Forbes and the FT, all of which slaughtered Suthep and the Dems this week.

Edited February 6, 2014 by Snig27

[Snig27]

The anti-govt mob are getting increasingly desperate, what with the ongoing run of appalling press the protesters and the Dems are getting internationally, the collapsing numbers etc. It ain't worked and mild panic is setting in.

Regarding the "appalling press": the Wall Street Journal has honored Ms. Yingluck Shinawatra with an appealing article:

Thai Effort to Control Rice Market Backfires

http://online.wsj.com/news/articles/SB10001424052702304428004579352590377530118?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304428004579352590377530118.html

She has also been repeatedly warned by the IMF, WTO, and the Worldbank.

Wall Street doesn't care about family surnames or your political affiliations. They only see the color of money, and if the Shinawatra policies are not profitable in the long term, they will stop supporting his regime.

You confuse news reporting with editorial (as does much of the protest movement). Read the editorial opinions in said papers.

[MGP]

Don't kill the messenger. Read his letter.

[MGP]

The anti-govt mob are getting increasingly desperate, what with the ongoing run of appalling press the protesters and the Dems are getting internationally, the collapsing numbers etc. It ain't worked and mild panic is setting in.

Regarding the "appalling press": the Wall Street Journal has honored Ms. Yingluck Shinawatra with an appealing article:

Thai Effort to Control Rice Market Backfires

http://online.wsj.com/news/articles/SB10001424052702304428004579352590377530118?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304428004579352590377530118.html

She has also been repeatedly warned by the IMF, WTO, and the Worldbank.

Wall Street doesn't care about family surnames or your political affiliations. They only see the color of money, and if the Shinawatra policies are not profitable in the long term, they will stop supporting his regime.

You confuse news reporting with editorial (as does much of the protest movement). Read the editorial opinions in said papers.

Are you saying that the warnings from IMF, WTO and Worldbank about the failed rice pledge scheme were simple editorial opinions???

[newcomer71]

The man is a highly respected figure within the international financial community and as such his comments will and do carry weight.

Yinglucks ineptitude is due to her brothers manipulation of what passes for her though process and subsequently the policies implemented are designed to enrich the Shinwatra family not the country.

The sooner this woman and that odious creature her brother depart from the Thai political scene (and hopefully Thailand too) the better for both Thailand and the Thai people.

Never have so many been screwed by so few.

While I agree with you on almost every point (is better for everyone if Shinawatras go out from Thai politic scene, and this government had accumulated an outstanding record of malfeasance), I don't see any right for anyone to call them out of Thailand.

Let the boss come back home if he wants and serve his jail term, if not is just his will to stay out. Other Shinawatra just being given a life term ban from politics, and all of the ones involved with them. So they can stay and live happily ever after. But far from every politic role for God's sake.

[Snig27]

Don't kill the messenger. Read his letter.

I did. If he really cared about Thailand he'd be sending it to Suthep. He's the primary enemy Thailand needs to face right now. The rice scam is a massive mess, made worse by what's happening now, but somehow the country will get through it. What it won't get through is the destruction of the democracy to benefit the elite privileged grouping this aristocratic failed finance minister represents. Given his past, should any country really take his advice?

[patjem]

I find his statements very self serving or "Suthep" serving, it is of the utmost importance that Yingluck remain PM until after the official announced vote is made public.

If she is not wanting to continue as head of state inform her party before the appointment of a vote for the new PM!

Democracy in Thailand needs her, to survive the onslaught of the rich elites plans to take over with a Undemocratic unelected government with the backing of the military.. The only way that can happen (without a coup) if she resigns, and causes a "power vacuum" that can be exploited by the fascist!

Hang tight, Yingluck you have much support in the country!

Peace

Nothing to do with Suthep (yes, he's a clown), but everything to do with YL's own ineptitude and Mis-handling, and the result should be her removal. Bottom line.

[whybother]

I find his statements very self serving or "Suthep" serving, it is of the utmost importance that Yingluck remain PM until after the official announced vote is made public.

If she is not wanting to continue as head of state inform her party before the appointment of a vote for the new PM!

Democracy in Thailand needs her, to survive the onslaught of the rich elites plans to take over with a Undemocratic unelected government with the backing of the military.. The only way that can happen (without a coup) if she resigns, and causes a "power vacuum" that can be exploited by the fascist!

Hang tight, Yingluck you have much support in the country!

Peace

How does her resigning cause a power vacuum? He she resigned, a deputy would stand in her place until a government could be formed from the election.

[thesetat2013]

Kikoman you say

Hang tight, Yingluck you have much support in the country!

I think you are soo wrong. With every day that passes a new scandal appears that YL and her party has caused. I am impatial to both sides however it Is becoming increasingly clear that this gov run by YL and the PTP has done nothing but help only a few (mostly the rich who support her) and the northerners (farmerd included).

To the rest of Thailand. YL and the PTP have done immense damage to the rest of the people. To their faith in their leaders. To the banking association and to the worlds overall view of this country.

Her continued presence as PM will bring Thailand to its knees.

I dont agree with Sutheps ideals and am at a loss how this country will ever recover from the damage caused by thiS administration. But Somethibg needs to be done to fix all the problems created by this gov. AND SOON before its too late

Edited February 6, 2014 by thesetat2013

[Snig27]

The anti-govt mob are getting increasingly desperate, what with the ongoing run of appalling press the protesters and the Dems are getting internationally, the collapsing numbers etc. It ain't worked and mild panic is setting in.

Regarding the "appalling press": the Wall Street Journal has honored Ms. Yingluck Shinawatra with an appealing article:

Thai Effort to Control Rice Market Backfires

http://online.wsj.com/news/articles/SB10001424052702304428004579352590377530118?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304428004579352590377530118.html

She has also been repeatedly warned by the IMF, WTO, and the Worldbank.

Wall Street doesn't care about family surnames or your political affiliations. They only see the color of money, and if the Shinawatra policies are not profitable in the long term, they will stop supporting his regime.

You confuse news reporting with editorial (as does much of the protest movement). Read the editorial opinions in said papers.

Are you saying that the warnings from IMF, WTO and Worldbank about the failed rice pledge scheme were simple editorial opinions???

Please don't put words in my mouth - you were the one who decided to include those. I was talking about global financial editorial in the major newspapers that represent that community - and it is uniformly critical of Suthep, the mob and the Dems. Nobody is denying that the rice scheme is a bloody mess and that these bodies are extremely worried.

However, throwing drivel out like "failed state" as this guy has is just provocative nonsense. Thailand is nowhere near a "failed state" under any definition. Somalia is a failed state, South Sudan may be one - Thailand is not.

[Artisi]

The same few red posters everyday, bleat bleat bleat, it's not Thaksins / Yinluck fault it's all Sutheps fault - just ask us we'll tell you even if the fact show otherwise.

[MGP]

Don't kill the messenger. Read his letter.

I did. If he really cared about Thailand he'd be sending it to Suthep. He's the primary enemy Thailand needs to face right now. The rice scam is a massive mess, made worse by what's happening now, but somehow the country will get through it. What it won't get through is the destruction of the democracy to benefit the elite privileged grouping this aristocratic failed finance minister represents. Given his past, should any country really take his advice?

I understand your point. Some of those people don't seem very trustful. On the other side, I don't see how the country will get through the mess of the rice scam (and other scams), because YL never wants to acknowledge mistakes and always blames the others.

[uty6543]

The man is a highly respected figure within the international financial community and as such his comments will and do carry weight.

Yinglucks ineptitude is due to her brothers manipulation of what passes for her though process and subsequently the policies implemented are designed to enrich the Shinwatra family not the country.

The sooner this woman and that odious creature her brother depart from the Thai political scene (and hopefully Thailand too) the better for both Thailand and the Thai people.

Never have so many been screwed by so few.

"The sooner this woman and that odious creature her brother depart from the Thai political scene (and hopefully Thailand too) the better for both Thailand and the Thai people."

It might be better if she stayed and faced the music for her corruption and if she jets off to Dubai an international arrest warrant should be issued to bring her back so all politicians can see corruption is no longer acceptable in the new Thailand.

[jcb2001]

I find his statements very self serving or "Suthep" serving, it is of the utmost importance that Yingluck remain PM until after the official announced vote is made public.

If she is not wanting to continue as head of state inform her party before the appointment of a vote for the new PM!

Democracy in Thailand needs her, to survive the onslaught of the rich elites plans to take over with a Undemocratic unelected government with the backing of the military.. The only way that can happen (without a coup) if she resigns, and causes a "power vacuum" that can be exploited by the fascist!

Hang tight, Yingluck you have much support in the country!

Peace

I agree with one point you made. Yingluck will never give up her power as she is her brother's only chance at keeping his country. Make no mistake about it. Thaksin will fight tooth and nail to continue his quest to rape Thailand for his own personal gain. He has invested too much to loose now. Thanks to Suthep, the people are slowly seeing Thaksin's evil schemes that are devastating the country. Suthep might have some skeletons in the closet, but Thaksin is way worse. I can't understand how people think that Thaksin is a good leader for Thailand. Time is on the side of the people. Hang in there Suthep!

[Scamper]

He's right. The situation is beyond dire for this administration and the country. Investment is indeed going through a steady exodus, the financial underpinnings have appeared to collapse, and the inner-workings of the administration that are now being exposed through the NACC's investigation have capsized investor confidence, coupled with the collapse of the rice scheme, coupled with the collapse of the rice industry itself, coupled with the protests on the streets, coupled with the debacle of the election, and last but not least, coupled with the administration being stripped of all power, and frozen in incapacity, and without any credible pathway to shift out of that for now or in the foreseeable future. And then there are the impeachment proceedings and constitutional challenges facing it, including the amnesty bill, the senate bill, the rice scandal, and the emergency decree. For all these reasons, he's right.

[Snig27]

Don't kill the messenger. Read his letter.

I did. If he really cared about Thailand he'd be sending it to Suthep. He's the primary enemy Thailand needs to face right now. The rice scam is a massive mess, made worse by what's happening now, but somehow the country will get through it. What it won't get through is the destruction of the democracy to benefit the elite privileged grouping this aristocratic failed finance minister represents. Given his past, should any country really take his advice?

I understand your point. Some of those people don't seem very trustful. On the other side, I don't see how the country will get through the mess of the rice scam (and other scams), because YL never wants to acknowledge mistakes and always blames the others.

What it really needs to try and solve this is a working government, not one kneecapped by the self-serving demands of a scumbag like Suthep. I tend to agree she needs to listen more and there are few signs that she's doing enough of that yet. That said, reporting on Reuters last week was quite clear that she was no longer cow-towing to her brother and she's increasingly her own person. Given the vast amount of external money invested in Thailand I imagine there are all sorts of hefty discussions going on here that we don't know about, involving global players.

She also seems to have garnered some international respect for the calm determination she's shown in recent months - although the "man in Dubai" chanters would never be able to grasp that.

[Old Man River]

Can someone enlighten my in what party he is or was ?

Then I will understand more

You will understand less.

Not really ever considered a politician, but more of an economist, although a Dep. PM three times, twice under Anand Panyarachun. A Wharton grad, and former Central Bank Governor.

He told a group of us last week, if he ever gets back into a government his dream would be to head the investigation on YL's rice program. Obviously, not high on her list.

Sent from my iPad using Thaivisa Connect Thailand

[Snig27]

Can someone enlighten my in what party he is or was ?

Then I will understand more

Not really ever considered a politician, but more of an economist, although a Dep. PM three times, twice under Anand Panyarachun. A Wharton grad, and former Central Bank Governor.

He told a group of us last week, if he ever gets back into a government his dream would be to head the investigation on YL's rice program. Obviously, not high on her list.

Given his disastrous past as MOF (as detailed partially upthread - there seems to be much more) you rather hope that never happens.