Banker warns of dire effect on Thai economy if fishing ban is enforced

[JAG]

They government has almost impossible situations on their hands. Past governments and state officials have done little or nothing to correct them and now they are all falling into the General's hands at about the same time. I hope he can resolve them. I don't envy his position.

Sorry, but nothing fell into General Prayut's hands.

The military turned a blind eye to the disruption and violence of the anti-government protests, chose to overthrow the elected government when it refused to step down, and assumed rule of the nation for the military. He came to power with an elected government paralyzed since mid-2013 and caused a complete disruption of government activities with his tailor made Junta government.

General Prayut's first priority as PM was to secure subjugation of the nation and only much later did he begin to address the economy left in ruins by shutdown and dismissal of the elected government. He must accept responsibility the consequences of any EU ban.

I think he will address this problem to the satisfaction of the EU, if he doesn't then the government will find other markets and the EU will be paying a lot more for their fish. By the way... Yingluck and her government weren't over-thrown by the military.

Youll be claiming that he has an overwhelming popular mandate next.

[Fat Haggis]

They government has almost impossible situations on their hands. Past governments and state officials have done little or nothing to correct them and now they are all falling into the General's hands at about the same time. I hope he can resolve them. I don't envy his position.

He didn't have to take on the role of PM, a poor tradesman always blames his tools!! You reap what you sow and deflecting it back to the previous inept crowd is expected from a particular quarter. He was warned about the impact of Martial Law on the economy by REAL economists and financial experts and he dismissed these as being anti junta and that nobody understood Thainess or the situation in the country.

There is NOTHING stopping him from stepping down and bringing in a cabinet where he has the experts, the losses occurred in the Thai economy due to the coup have been Staggering if the economic experts outside of Thailand are to be believed.

Bottom line, it's happening on his watch, he and he alone brought in people like Kobakarn and put his buddies in positions they had no experience in.

Yes he inherited a mess, but he wanted that position so badly, and now has ultimate control with no accountability with article 44, he has to accept the bad shit along with the good!!

Areu telling us that he is learning from Obama ? Always blame the predecessor?

Standard procedure in politics when things ain't going well, blame it on the previous lot. Happens all over the world.

[spermwhale]

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Greed and corruption, Thai mantra. They only have themselves to blame.

I don't know where you come from clockman but if your country has no greed and corruption I would like to know what it is. What do they say, "People who live in glass houses should not throw stones". The USA, The UK and Australia are all full of corruption as is almost every other country I can think of.

They are not FULL of corruption like Thailand. There is a reason Thailand ranks so poorly on the global corruption index, because it is rife through all sectors. Here you even need to bribe to get civil servants to do their work! You bribe policemen, you bribe at official government offices to get preferred treatment. That's not the case in the country's you mentioned.

[Fat Haggis]

It's not that Thaialnd is any worse, it's more along the lines in that many don't see anything wrong with it.

Iraq is the same, if you want something done or need to go somewhere you have to cough up a fat brown envelope, the little man sees nothing wrong with participating in corrupt acts when he sees it a much higher level.

[The Deerhunter]

OK, if they manage to scrape past this one, what will it it take to force a clean up of Thailand's (government and industry) huge human rights issues?

[Fat Haggis]

According to the BP Article 44 has been used to set up a new Fisheries Command centre.

[mango66]

The economy is in tatters as it is, according for the BP this morning export forecast is going to be reduced again to around 1%.

Tourist spending is down, the 400,000 Chinese didn't appear for Songkran, hotels offering up to 50% discount for Thais, and still people like the Tourism minister will turn facts into fiction. And there will be the usual Kool aid gang defending their statistics through graphs produced to make the Titanic look like she was meant to be a submarine !!!

wasnt there already an inspection by the related minister and all were find to be fine !

Its only the bad EU which wants heart Thai kindness !!

Chinese were coming, but didnt spend money, neither used the toiletts;

Thais were some on the shore I found;

I were in Koh Phangan - in 2 smaller resorts,

in the one, one day we were the only guests, next day 2 more couples for 1 night;

resort were temporarely managed by Myanmar, Owner were for song khran in home town;

the other resort: 2 couples, including us,

Owner in home town;

occupancy : less 5% !!

for us it was fine,

nearly too boring to be 3 days alone in the restaurant !

Westerners are gone,

Chinese dont go to Resorts;

some other days we were on a bigger Hotel in Jomtien,

a mass of disturbing Chinese herds,

shouting, loud, resticuless to force place in elevators,

but we were lucky for the breakfast buffet,

as Hotel putted these herdes in a separate BUNKER !!

[Thai at Heart]

The Thai Baht is still high so all must be ok or am I being to simplistic. Normally with so much bad news around a country's currency is under pressure and I know the Thai Baht has additional rules compared to major currencies but even so why is it so high when Thailand exports rice, cars and needs Tourism I would have thought a lower Baht would be desired. I must be missing something.

Wait a while longer, as exports drop less demand for Thai baht currency, and it will fall...just wait. Basic economics.

Um no. For every dollar of exports, Thailand needs 0.80 USD of imports. Falling volume of exports means facing volume of imports.

So, alas they still have a trade surplus because all the raw materials and a lot of components are imported.