BOT-FPO: Greek financial crisis has little effect on Thailand

[webfact]

BOT-FPO: Greek financial crisis has little effect on Thailand

BANGKOK, 10 July 2015, (NNT) - The Bank of Thailand (BOT) and the Fiscal Policy Office (FPO) have downplayed the effects of the Greek financial crisis on the local economy, saying the two nations have minuscule trade ties and the number of Greek tourists visiting Thailand is small.

The BOT said that Greece's refusal to accept the debtors' bailout terms affects the global monetary market in the short term, but the event is unlikely to post any significant threat to Thailand. The national bank highlighted the fact that Thailand and Greece have only minor ties in terms of trade.

The FPO shared the sentiment, saying that the Kingdom would feel only slight turbulence from Greece's financial crisis. It said local commercial banks should not be affected by the episode, as they do not have any direct transactions with their Greek counterparts.

At the end of May, eleven commercial banks had provided loans and invested in ten European nations to a value of 56 billion baht or 0.3 percent of the banks' total assets. The FPO forecast trade with Greece would face a small contraction as exports from Thailand to Greece only amount to 0.06 percent of the total export value.


-- NNT 2015-07-10

[Anthony5]

Shows once again how shortsighted the Thais are, if they think a Grexit affects only Greece's trade partners and tourist destinations.

[bubblegum]

Greek financial crisis affects the euro hence it affects Thailand

[shirtless]

More claptrap by those that have no brain why do they let the village idiots into such high positions

[Mudcrab]

The Greek tragedy (apologies) is nothing compared to what may happen with the Chinese situation.

[Jimlove]

More claptrap by those that have no brain why do they let the village idiots into such high positions

Agree ... In Thailand the person that can name drop and pay most in bribe to the higher boss gets the fat job, no matter how low IQ this person (village idiot is a precise term) might have ... The Idiocy here are incredible ...