Thailand

June 2008 | Risk Summary

Speculation of yet another coup were rife in late May/early June, but the army has intimated that it will not intervene to stop the current political fracas. On June 2 the army chief, Anupong Paochinda, told his commanders that the friction between opponents and supporters of former prime minister Thaksin Shinawatra had to be resolved 'by rule of law'. This reassurance was concurrent with a serious drop in the stock market - which followed a weekend of clashes between riot police and anti-government protesters. Whether the army is calling being sincere is not clear, as similar rhetoric was heard in the run up to the 2006 coup, but for now it appears as though they will steer clear from the political turmoil.

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