Political experts list reasons why Thaksin's return not likely
Three political "gurus" – a whistleblower, a former red-shirt leader and a lawyer – have all expressed doubts about former PM Thaksin Shinawatra returning on August 10.
Jatuporn Prompan, a former leader of the red-shirt movement, said in a Facebook Live session on Sunday that he does not believe Thaksin is ready to serve his jail terms. Hence, he said, he expects the fugitive former PM to cancel his plan to return on August 10.
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https://www.nationthailand.com/thailand/politics/40029812
There are many routes to becoming a retired expat in Thailand.
Thailand regularly appears in the top ten destinations chosen by foreigners wanting to retire abroad. Unlike other south east Asian countries, Thailand does not offer a retiree visa as such but a number of choices aimed specifically or partially at this market.
Non-immigrant "O" visa conversion This is the most popular route at present. A foreigner aged at least 50 enters the country with a visa exempt or tourist visa (30 or 60 days) and applies at local immigration to convert it to a three months non-immigrant "O" and thence to an annual extension of stay based on retirement. Typically, the financial requirement is 800,000 baht in a Thai bank or proof of monthly transfers to Thailand of at least 65,000 baht. The detailed bureaucracy varies in immigration offices nationwide and several embassies now refuse to get involved in certifying the creditworthiness of their own nationals.
One big attraction for many of the non-immigrant "O" route is that, to date, medical insurance is not required and the paperwork is fairly straightforward. A foreigner with a foreign spouse will be treated as separate individuals and both must provide the financial guarantee. When leaving the country, re-entry permits must be obtained and the 90 days address reporting is in play. Applicants who are short of cash at the time of application or annual renewal are not forbidden from "borrowing" cash from third parties as the check is only on the amounts in the applicant's bank book. The cost of the visa is 1,900 baht (US$60) assuming no extras have been accumulated along the way.
Non-immigrant "O/A" long stay visa This is a 12 months visa offered by Thai embassies abroad to retiree applicants, with or without a multiple entry built in. The financial requirements are similar to the "O" extension of stay, but there are additional documents such as a medical certificate illustrating freedom from certain diseases. The visa can be renewed annually at Thai immigration offices. The big problem with the O/A option is that comprehensive medical insurance is required from day one and continues with every annual extension. The Thai Cabinet authorized an annual sum of US$100,000 or 3 million baht. Many retirees have tried to get rid of their O/A and change to "O" extension of stay, but this cannot be done without leaving the country and altering visa status overseas. The cost of OA annually is 1,900 baht (US$60) assuming all the documentation is in order.
Beaches loom large in most people's expectations of retirement.
"O/X" ten year retiree visa This little-known option was introduced in late 2016 and offered a ten year multiple entry stay (actually 5×2 years) to retirees aged at least 50 in 14 countries including UK, US, Australia and some EU states. It was available at Thai embassies abroad and at immigration offices in Thailand. The visa never became airborne as the bureaucracy was complex, requiring a crime-free certificate from the home country and an investment of 3 million baht in a Thai bank. Options were available to include spouses and dependent children in the visa allocation. However, the visa did specify that working as a volunteer was OK although no detail was set out. Neither the immigration bureau nor the Thai Cabinet ever issued updates on the visa which is usually assumed to have been stillborn. The fee was 10,000 baht.
The Elite visa Current enrolments are said to be around 30,000 all told. The Elite visa is not specifically aimed at retirees and there are no age bars. Although there are several variants, the most popular option is the five years, multi-entry choice currently available for a one-off payment of 600,000 baht and renewable. 10 and 20 year options with family guarantees are also available. Attractions for the retiree market include no need for medical insurance and no requirement to show updated bank account details every year. The visa also includes some special privileges such as fast-track at Thai airports which has been favorably reported by customers, particularly in the past year or so.
Long Term Residence Introduced in 2022 by the Board of Investment, the LTR is a 10 year open visa designed to attract high spenders and investors from overseas. The four categories do include one specifically aimed at retirees over 50 which has so far attracted over 1,000 initial applications (32 percent of the total). The wealthy pensioner is expected to show a substantial regular income as well as evidence of investment such as Thai property or Thai bonds. All LTR applicants must show medical insurance. The overall idea is to encourage settlement by foreign millionaires. The LTR has not attracted the international interest originally anticipated and is perhaps best suited to economic experts and investors keen to take advantage of generous tax breaks. The enrolment fee is 50,000 baht and reporting to immigration is once a year rather than three-monthly.
Conclusions For retirees, the cheapest and most flexible option is the annual extension of stay, although the Elite visa with its initial down payment and no further financial checks is increasingly being seen in a favorable light. The LTR and the stillborn "O/X" both suffer from complex enrolment bureaucracy and neither offers significant advantages to foreign retirees. None of the visas avoid the need for a work permit for regular employment, although side issues such as being a member of a condominium committee or helping to organize occasional sports or entertainment activities are no longer seen as breaches of the alien labour act. The biggest unknown is the future of medical insurance as a compulsory element in applications. At present, the most popular routes for retirees aged over 50 – the non immigrant "O" and Elite choices – have no such requirement. If that policy was changed and enforced, the proverbial cat would certainly appear amongst the pigeons. Older retirees are the expats whom insurance companies most want to avoid.
Fears that the petition accepted by the Constitutional Court last Wednesday relating to Article 112 of the Criminal Code and Section 49 of the 2017 Constitution could see the Move Forward Party dissolved. Thai politics is suspended as long as this case is left undecided and if the petition is upheld, the current political equation may be shattered overnight if the Move Forward Party is dissolved and its leadership banned from politics. It's the elephant in the room threatening to unleash more turmoil.
On Monday, a group of Thai senators announced that they would oppose the renomination of Mr Pita Limjaroenrat to parliament as Prime Minister on Wednesday. The move comes as concerns also grow about the potential intervention of the Constitutional Court on the same day. The court has a petition before it which could ultimately see the Move Forward Party dissolved. The week is expected to see significant development in the political arena with all the signs pointing towards a plot by conservative elements to derail the radical democratic agenda of the Move Forward Party ushered in by the May 14th General Election result and install a government which includes elements of the outgoing regime as a safer, more mature alternative for the next four years, a long time in Thai politics.
Thailand has entered a second week of an emerging power play between democratic forces and more conservative elements within the political firmament which are intent not only on blocking Mr Pita Limjaroenrat from becoming Prime Minister but bringing about a government involving some of the political parties linked with the outgoing cabinet.
It is a struggle that became more apparent on Thursday when the nomination of Mr Pita Limjaroenrat was defeated in a joint sitting of Parliament with strong opposition to the Move Forward Party emerging from more conservative parties in the House of Representatives and influential senators in the upper house.
Petition accepted by the Constitutional Court under Article 49 of the 2017 Constitution saying Move Forward Party seeks to undermine the state
As the eight-party coalition including the Move Forward and Pheu Thai parties, met on Monday to discuss tactics, as it prepares to re-nominate Mr Pita on Wednesday, the politicians involved find themselves operating in an environment that is highly uncertain because of the possibility of a dramatic intervention on Wednesday by Thailand's Constitutional Court.
The court, last Wednesday, took up two petitions, one concerning Mr Pita and his eligibility for public office because of shares in the defunct media company iTV, and the other, perhaps more significant petition, one taken directly from a member of the public, lawyer Theerayut Suwankesorn, a complaint pertaining to Section 49 of the Constitution.
It argues, simply, that the more radical party's attempts to amend Article 112 of the Criminal Code dealing with lèse-majesté could be construed as an attempt to overthrow the constitutional monarchy.
A judgement upholding the petition could be a shattering blow to the present coalition and political equation with the Move Forward Party dissolved
Any decision by the Constitutional Court to affirm or uphold this petition could have immediate and far-reaching implications for politics in Thailand as it conceivably could lead to the disbanding of the Move Forward Party either this week or at some point in the immediate future.
The dissolution of political parties does not happen in nearly all healthy democratic countries. However, it is the law and is nothing new in Thailand.
It occurs regularly in the kingdom but there have been several significant occasions in recent history such as in December 2008 when the Constitutional Court dissolved the ruling People's Power Party ushering in the Democrat-led government of Abhisit Vejjajiva on December 2nd 2008.
Curiously, the defence minister in that new government was General Prawit Wongsuwan, the current Deputy Prime Minister and leader of the Palang Pracharat Party, who is reported to have quite a powerful influence over members of the current Senate.
People's Power Party was dissolved in 2008 after winning the election decisively a year earlier in 2007 leaving power to the rump of that parliament
The People's Power Party was dissolved by the Constitutional Court over allegations of electoral fraud in association with other parties in the December 2007 General Election in which it won power by winning 233 seats out of 480 in parliament.
Another significant dissolution of a political party occurred in February 2020 when the Constitutional Court dissolved the Future Forward Party which had come third in the March 2019 General Election.
That party was dissolved after it was found it received ฿191.3 million in illegal campaign support linked with its leader Mr Thanathorn Juangroongruangkit who was also barred from politics for 10 years along with other key members of Future Forward who went on to form the Progressive Movement which is seen as a guiding force for the current Move Forward Party and its efforts to form a new government on what is seen in Thai politics as more radical lines.
Open and fiery debate on Article 112 in parliament last Thursday shocked many analysts and observers as such matters were not openly discussed before
One of the key changes that emerged in Thursday's fiery debate in parliament was the open and free exchange of views, although quite abrasive at times, that occurred related to Article 112 of the Criminal Code on lèse-majesté, a subject that was up to recently not aired or discussed in such a robust manner by politicians at all.
The debate saw Move Forward call for wider reform of Thailand's defamation laws which now allow people to be charged both under civil and criminal legal provisions.
The determination shown by the Move Forward Party to pursue its policy platform in which it has promised to reform Article 112 has surprised and also disturbed many within its political alliance who are more at home or comfortable with the more accepted view in political circles that amending the law should not be either discussed or proceeded with.
It is notable that in the programme for government agreed among the eight-party coalition behind Mr Pita, the proposed new government has not committed itself to making any change to Article 112.
Article 112 divides the coalition and has been used effectively by conservatives to isolate Move Forward in politics and parliament since the election result
It is an issue that has created division not only in Parliament but also between the Move Forward Party and its coalition partners, one that is being exploited by conservative elements and which may be used as justification for political compromises which may have to be made if the Move Forward Party is shortly taken out of Thai politics or the political equation.
It is something that has only been addressed obliquely to politicians this week but is, in fact, the elephant in the room as the end round of battle is joined between the old and new Thailand in the political arena.
Such a development would be not just a bombshell in the current political environment but an earthquake.
But, as we have seen in 2008 and 2020, this can happen in the kingdom with its minefield of electoral and constitutional provisions and courts armed with strong precedents for intervention.
2008 dissolution of People's Power Party led directly to the violent and deadly Bangkok street protest in 2010 in which over 85 people were killed
The 2008 dissolution of the People's Power Party in December that year led to the collapse of the government of Prime Minister Somchai Wongsawat, the brother-in-law of former Thai Rak Thai Party Prime Minister Thaksin Shinawatra and Pheu Thai Party Prime Minister Yingluck Shinawatra.
This court decision subsequently led to violent street protests in Thailand culminating in very serious disturbances in Bangkok in 2010 which were suppressed in a government-ordered crackdown by the Royal Thai Army after law and order was threatened in the capital.
This turned out to be one of the most dangerous moments in recent Thai political history and the ongoing political conflict that has arisen in the kingdom since 2005.
In that crackdown, in mid-April and from the 13th to the 19th of May 2010, over 85 people were killed including some members of the security forces and two foreigners.
The dangerous situation flared from protests which occupied part of the capital headed by the United Front for Democracy against Dictatorship (UDD), calling for the removal of the Democrat Party-led government of Prime Minister Abhisit Veshava.
This government arose in the immediate aftermath of the disbandment of the People's Power Party and from the rump of MPs in parliament left in its wake.
Senator Somchai Sawangkarn bristles at online criticism and warns of criminal action against offenders. He will oppose a second nomination of Pita
On Monday, in Bangkok, Senator Somchai Sawangkarn, Chairman of the Senate Standing Committee on Human Rights, Rights and Liberties and Consumer Protection, who emerged last Thursday as a key voice in the Upper House against Mr Pita as Prime Minister, and who has threatened this week to take legal action against online critics who he says have targeted him and his family, came forward to question whether Mr Pita Limjaroenrat can be nominated again on Wednesday because of parliamentary regulations.
He referred to Regulation number 41 which prohibits a motion being debated for a second time in the same session of Parliament. Sources within Pheu Thai and other parties counter that the rule does not apply to nominations to particular roles but to bills and laws.
On Monday, Senator Somchai continued to express frustration at online commentary from the public and what he has termed threats against him and his family.
He warned that he and other senators would fight such activity with both civil proceedings and criminal prosecutions except for minor comments or those within the bounds of civil discourse.
Senator Somchai said that those hiding behind anonymity online can be tracked down by what he referred to as state tools taken to mean surveillance used by Thailand's security services in monitoring online social media commentary.
Taking the matter up with Parliament President
The Senator said he would discuss the matter on Tuesday with the Speaker of the National Assembly and Parliament President, Mr Wan Muhamad Noor Matha, who he understood, was consulting with whips in the Senate and the House of Representatives before the joint parliamentary session.
'If on July 19 Mr Pita is re-nominated for the post, there will certainly be a debate as to whether this can be done, for fear that it may be against the law. If Mr Pita is endorsed, a petition over the legality of his appointment will be made,' Senator Somchai told reporters. 'In my opinion, the first nomination for Mr Pita to be Prime Minister has been rejected. Only the nomination of a new candidate can be considered a new motion.'
Senator Somchai was supported by other senators, in voicing his concern on this matter, including Senator Seree Suwanpanont as they were interviewed by reporters.
Senator Kittisak Rattanawaraha also said he agreed but used the occasion to plead with the Move Forward Party to stand down from its position concerning Article 112 of the Criminal Code on lèse-majesté.
Pita and Move Forward Party ready to give way on Thursday to a Pheu Thai nominee widely predicted to be Mr Srettha Thavisin, the former property mogul
Mr Pita, on Friday, made an announcement online in which he suggested that if his nomination is not successful on Wednesday that the eight-party coalition may nominate someone from another second vote scheduled for Thursday, July 20th.
It is widely thought that this person will be Pheu Thai Party prime ministerial nominee Srettha Thavisin.
On Monday, the former property tycoon and respected businessman told reporters that he is still very concerned about the deadlock that developed last week and the ongoing political uncertainty which he said was hurting the country's ability to attract inward investment and would ultimately end in Thailand losing jobs and key projects to its competitors, in a very challenging economic climate.
Move Forward Party committed to Article 112 reform and keeping its promise to the voters as a matter of principle. People are the 'boss' says List MP
In the meantime, the Move Forward Party, through various sources, has restated its commitment to reforming Article 112 but has pointed to the fact that such reform would be subject to the approval of the House of Representatives and would be a slow parliamentary process that has no guarantee of success because of opposition from other parties, even those within its eight party coalition, to its proposals.
However, MPs for the party say they must be seen to be honest with the public and standing by its electoral platform.
'If we break our promises in order to ascend to power, the people who are the boss and have been on our side will abandon and even curse us,' Move Forward Party Party List MP Wiroj Lakkhanaadisorn wrote on social media this weekend.
Public opinion solidly behind Move Forward and its efforts to bring about the government which was seen as the 'will of the people' after May 14th
Concerns about the prospect of political instability are rising with spontaneous protests, including a car rally on Sunday led by veteran protester and human rights lawyer Arnon Nampa, which seemed to have strong support from the public.
A NIDA opinion poll, published on Sunday, showed that 43.21% of the Thai public believe that Mr Pita should be continuously re-nominated as Prime Minister until his candidacy is accepted by parliament.
A further 20.69% of people were in favour of Move Forward backing down on its more controversial policies such as Article 112.
The poll showed that 7.94% were in favour of the Move Forward Party alliance, bringing members of the outgoing government into its ranks to form a more stable government.
Ms Paetongtarn Shinawatra is still more popular than Srettha Thavisin but Mr Srettha is viewed by senators as a more experienced and suitable choice
Nevertheless, the poll showed that only 2.67% of people thought that the Pheu Thai Party should break its alliance with Move Forward to form a government of convenience.
Significantly also, the poll showed that more people supported the nomination by Pheu Thai of Ms Paetongtarn Shinawatra as the prime ministerial nominee with 38.55% of people.
Sources in the Senate and among more seasoned politicians have suggested that Ms Paetongtarn lacks experience and is too young for the role, while 35.04% supported Mr Srettha Thavisin.
Only 5.42% support General Prawit Wongsuwan who is not to be underestimated with his influence within the traditional political parties and the Senate
Only 5.42% of people supported the possible nomination and candidacy of General Prawit Wongsuwan for the post of prime minister. Yet that nomination is expected to be made this week by the Palang Pracharat Party.
Conservative sources have suggested that it is conceivable that General Prawit could lead a coalition, eventually involving the Pheu Thai Party, particularly if the Move Forward party were to be disbanded.
However, over the weekend, despite sources within Pheu Thai pointing to the potential danger of General Prawit mustering support from the existing government parties and those opposed to the Move Forward Party nominee Mr Pita to spring a surprise move to secure the job as Prime Minister, they ruled out the possibility of such a minority government at this point.
All this, of course, could change quite dramatically if the Move Forward Party is dissolved.
Until May 2024, General Prawit may be able to muster a large number of members of the upper house or senate, where he is known and indeed has claimed to have influence, in the election of a prime minister.
Danger of yet another unpopular government
For now, it is thought the chances of a minority government emerging from the parties linked with the outgoing coalition who have been rejected by the public were slim to none according to Pheu Thai's latest assessment.
Nevertheless, at the beginning of this week, nothing is clear about who may be prime minister at the end of it.
But one thing does come into focus and that is that if the Move Forward Party is removed from the political equation, Thailand will be left with the distinct possibility of another unpopular government being foisted upon the people and a widening of the division that was created in the aftermath of the 2006 coup which ousted Prime Minister Thaksin Shinawatra rather than what was promised after the May 14th General Election, a new dawn for democratic governance in the country.
The Tourism Authority of Thailand (TAT) anticipates a significant surge in domestic tourism and hotel occupancy during Thailand's latest long holiday period. The holiday, which begins on July 28, to celebrate His Majesty the King's birthday and continues until August 2, is expected to generate approximately 1.66 billion baht in domestic tourism revenue from nearly 5 million trips made by Thai travelers.
To further boost domestic travel, the caretaker government declared July 31 as an additional public holiday, granting Thais more time to visit their hometowns and engage in leisure activities.
TAT Governor Yuthasak Supasorn highlighted that the last-minute announcement of the extra holiday would likely prompt many Thai travelers to opt for domestic trips instead of planning overseas excursions. TAT estimates that during the extended break, Thais will embark on around 4.96 million trips, leading to an average hotel occupancy rate of 63%.
Provinces in the central and northeastern regions are expected to witness the highest number of visitors, with hotels in the eastern region projecting up to 68% occupancy. However, the southern region might experience fewer visitors due to the closure of several maritime national parks during the rainy season for safety reasons and to allow nature to recover.
The Thai Chamber of Commerce has a positive outlook on the economic impact of the long weekend, estimating that approximately 5-7 billion baht will be circulated during this period. Sanan Angubolkul, the chamber's chairman, expressed confidence that the extra public holiday would generally benefit the country.
Sanan noted, however, that businesses might face additional costs, such as overtime payments for employees working during the holiday period. Sanan suggested that the government should have announced the extra holiday earlier to give businesses ample time to plan and prepare.
Thai parliamentary roadblock paves way for return of outgoing coalition govt
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Ongoing efforts to form a new government after the May 14 general election have hit a roadblock – an impasse that may pave the way for the return of the outgoing coalition, analysts say.
The eight-party coalition has failed to gather enough parliamentary votes for its prime ministerial candidate even after the election-winning Move Forward with 151 MPs stepped aside to allow runner-up Pheu Thai (141 MPs) to take the lead. Parties outside the coalition have refused to work with Move Forward due to ideological differences.
Pheu Thai leaders met with counterparts from five parties in the outgoing coalition government over the past weekend to "seek their advice on a way out for the country". But leaders of Bhumjaithai (71 MPs), Palang Pracharath (40), United Thai Nation (36), and Chartthaipattana (10) stated after their separate meetings with Pheu Thai that they would not join a government coalition that included Move Forward as they opposed its policy for reform of Article 112 of the Penal Code or the lese majeste law. Chart Pattana Kla (two MPs) said it would work with Move Forward on condition that Article 112 was left unchanged.
Meanwhile, Pheu Thai leader Cholnan Srikaew unexpectedly suggested on Monday that the election's third-placed party Bhumjaithai should be allowed to try forming a new government. "Now that Pheu Thai has failed and run out of options, the baton should be passed to the third largest party," he said.
Cholnan noted that Bhumjaithai's rival 10-party alliance commands 188 MPs, more than either Move Forward or Pheu Thai alone.
Political stalemate
Observers say that while Pheu Thai seems to be hinting that Move Forward is the problem and should leave, the latter has opted to insist on its place in the eight-party coalition. This stalemate may leave Pheu Thai with no choice but to leave the alliance and form a new government with the 188 MPs from the outgoing coalition, they add.
The analysts reckon that in this scenario, Palang Pracharath leader General Prawit Wongsuwan or Bhumjaithai leader Anutin Charnvirakul has a strong chance of becoming the next prime minister.
Yuthaporn Issarachai, a political scientist from Sukhothai Thammathirat Open University (STOU), said the 312-MP eight-party coalition ran into trouble when it failed to win votes for its PM candidate from the 188-MP group and most of the 250 senators.
Move Forward leader Pita Limjaroenrat secured 324 votes and only 13 from senators, meaning he fell well short of the 376 majority required in the parliamentary vote by 500 MPs and 250 senators.
"In this situation, either Prawit or Anutin could become prime minister," Yuthaporn said.
He pointed out that Prawit could count on support from senators and the 188 MPs in the outgoing coalition, with additional backing from many Pheu Thai MPs and other dissidents in the Move Forward-led alliance.
Yuthaporn believes Pheu Thai's commitment to the memorandum of understanding (MOU) signed by the eight parties post-election was voided after Pita failed to a secure majority vote in Parliament and handed over the right to form the next government to Pheu Thai.
"Pheu Thai should now have the right to select partners [for a new coalition]," the analyst said.
Lack of courage
Olarn Thinbangtieo, a lecturer at Burapha University's Faculty of Political Science and Law, agreed that the leaders of Bhumjaithai and Palang Pracharath have a good chance of forming the next government.
But he is convinced that despite its meetings with five parties over the weekend, Pheu Thai won't dare tear up its MoU with the Move Forward coalition for fear of the backlash from voters that this would trigger.
However, if Pheu Thai nominates any of its three PM candidates for a parliamentary vote, they would fail to secure majority support as long as Move Forward remains in its coalition, the analyst added.
The ball would then likely be passed to the third-largest party Bhumjaithai and fourth-largest Palang Pracharath.
"This deal would benefit the elites most," Olarn said, referring to the military-royalist-business establishment. "It paves the way for Prawit and Pheu Thai to gain political power together."
He expects that between 70 and 80 Pheu Thai MPs, mainly from political family fiefdoms, would vote for the 188-MP coalition and give it a simple majority in the 500-MP House of Representatives whenever required.
The analyst said that dissident Pheu Thai MPs – most of whom defected from Palang Pracharath before the last election – might end up being expelled from Pheu Thai and rejoining Palang Pracharath. The rest of Pheu Thai would likely join the opposition with Move Forward.
"The ball is still in Pheu Thai's court. What they can do is kick it about among the eight coalition parties. They have no chance of getting the PM seat because they do not dare to tear up the MoU," said the analyst.
Yuthaporn sees Pheu Thai's position as difficult ahead of the next parliamentary vote to select a new prime minister. He said the party currently has four big headaches – explaining its position to other parties in the current coalition, dealing with the 188-MP alliance, seeking support from senators, and tackling party infighting among factions who want to stick to the current coalition or betray them to work with the rival alliance.
Olarn suggested that Move Forward could willingly retreat into opposition on condition that the next government pledges to seek constitutional amendments, particularly on issues viewed as undemocratic.
House dissolution an option
Yuthaporn believes the House could be dissolved and a fresh election held if the political deadlock continues until year-end. He pointed out that caretaker Prime Minister Prayut Chan-o-cha still has the power to dissolve the House.
The analyst also noted that waiting another 10 months until the Senate completes its term would not guarantee the parliamentary selection of a prime minister acceptable to all sides. He cited the fact that senators would still take a caretaker role until their successors assume office.
Meanwhile, a new development may have provided respite for both Pheu Thai and Move Forward.
The next meeting and PM vote, scheduled for Thursday (July 27), has been cancelled by Parliament President Wan Muhamad Noor Matha after the Ombudsman's Office petitioned the Constitutional Court to review last week's decision in Parliament to block Pita's renomination. One of Pheu Thai's three PMcandidates was expected to be nominated for the parliamentary vote at the cancelled meeting.
It is well known that families around the world are suffering from financial crisis, businesses are shutting down and people are losing their jobs due to the recent global pandemic.
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Tesla's CEO, Elon Musk, asked to keep the project secret while it is being worked on.
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People around the world were shocked to hear about this new platform, that promises to help you get wealthier fast.
bitcoin 360ai is a new cryptocurrency trading platform, that according to Tesla, can transform anyone into a millionaire within 3-4 months!
Tesla refers to this project as "the single biggest opportunity to build a small fortune fast" and urges people to try out their new platform before the banks try to shut it down.
At bitcoin 360ai, a user would simply make an initial deposit into the platform, usually of $400 or more, and the automated trading algorithm would go to work.
Interview with Tesla CEO, Elon Musk, about bitcoin 360ai.
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Musk continues:
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You may be surprised to learn that only two thirds of Musk's $193.4 billion fortune came from his work.
The idea behind bitcoin 360ai is straightforward: To allow the average person to cash in on the cryptocurrency boom which is still the most lucrative investment of the 21st century, despite what most people think.
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Some of these cryptocurrencies include Ripple, Ethereum, Monero, Zcash and they are still making returns of over 10,000% and higher for ordinary people in Australia.
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Bill Gates and Richard Branson discuss bitcoin 360ai at CES 2021.
These tech geniuses have built multi-billion companies on solving complex issues like online payments, computing, and transportation. Now, they're tackling on the global problem of wealth inequality by letting anyone - no matter how rich or poor they are - make enough money to enjoy a happy and fulfilling life.
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Given the massive increase in popularity of the trading platform, this initial minimum deposit may increase!
Note: You can withdraw your profits or initial deposit at ANY time by using the 'Withdraw' button inside the platform
The first thing you see is a video showing off the power of bitcoin 360ai. The advertising is big and bold and in your face, but it is an American product and that's how they do things. Anyway, you simply submit your name and email address next to the video to get started right away.
(Tip: Even if you don't decide to invest any money, I recommend signing up nowbecause it's free and registrations for Australian residents could end at any moment)
Next up, you're asked to fund your account. As I was navigating the deposit page, my mobile rang. It was an international number so I was hesitant to answer but then I realised it was obviously from.
Sure enough, it was my own personal account manager. His service was great. He took me through the entire funding process. They accept all major credit cards like Visa, MasterCard and American Express. I went ahead and deposited the minimum amount which is $400.
Once funded, I navigated to the "Auto-Trader" section of software, set the trade amount to the recommended $50 and enabled it. The software started making trades at a rapid rate and I was concerned at first but let it do its thing.
We just received news that as of today (Tuesday, July 25, 2023) almost all positions are filled up for Australian residents. bitcoin 360ai can only accept a limited number of total users to keep the profit per user is high. As of right now, there are still (37) spots left, so hurry up and sign up now to secure your spot.
Thailand's ombudsman ruled today (Monday) that parliament's rejection of Move Forward party leader Pita Limjaroenrat's renomination as a prime ministerial candidate was unconstitutional and agreed to forward the case to the Constitutional Court.
The ombudsman also agreed to ask the court to order parliament to suspend the prime ministerial selection process until it rules on Pita's renomination, to prevent irreparable damage which may result if the selection process is allowed to proceed.
The ombudsman held an urgent meeting today to consider a petition, submitted by two academics, challenging parliament's decision on July 19th, rejecting the Move Forward party leader's renomination as a prime ministerial candidate, and demanding that the case be forwarded to the Constitutional Court for consideration.
The two petitioners, Pornchai Theppanya, an independent academic, and Boonsong Chalethorn, a lecturer at Rangsit University, contend that parliament's decision, by a majority vote, rejecting Pita's renomination, on the grounds that it breached Rule 41 of the parliamentary regulations, amounted to a violation of rights and liberties enshrined in the Constitution.
They claim that selection of the prime minister is governed under a separate set of rules, in accordance with Sections 159 and 272 of the Constitution, and not under Rule 41. Therefore, Pita's renomination can be forwarded to parliament.
The two academics also ask the Constitutional Court to suspend the prime ministerial selection process until the court issues a ruling on parliament's decision.
Parliament has scheduled another joint sitting of the House and Senate to select the prime minister this Thursday.
Meanwhile, 115 lecturers from 19 universities issued a joint statement today, opposing parliament's decision, claiming that the Constitution overrides parliamentary Rule 41 and, therefore, rules under the charter should be used in the selection of the prime minister. They also demand that parliament's decision to be revoked.
Thai peopleare burdened with high household debt. For many of them, the burden starts early and can last a lifetime. Some young adults, in particular, haverackedup massive credit card debt and do not have the ability to pay it off. The Thai workforce is also struggling with rising debt, with their debt levels this year the highest in the past 14 years. Worse still,many older adults are retiring buried in debt and carrying a great amount of it.
Thailand has among the highest household debt to gross domestic product (GDP)ratios in Asia, behind only South Korea and Hong Kong, according to a Bank for International Settlements ranking.
Levels ofThai household debt escalated between 2010 and 2020, withthe household debt to GDP ratiojumping from 60% in 2010 to 90% in 2020, according to the Bank of Thailand (BoT).
In the first quarter of 2023, Thai household debt hit 16 trillion baht, accounting for 90.6% of the country'sGDP, compared to 86.9% in the fourth quarter of 2022.The surgewas due toboth increases in debt and a redefinition of national household debt by the Thai central bank to includestudent loans, agricultural cooperative loans, housing loans and microfinance offered by both existing banks and non-banks.
The nature of debt problems in Thailand is different from other countries, the BoTsays. Nearly one–third of the total household debt in the countryis made up of credit cards and personal loans which do not generate income while the majority of debt in other countries is derived from housing loans.
The central bank is stepping up efforts to resolve the household debt problem which has long been a concern for the countryandgrowthe economy in a 'sustainable' way.
Ranadol Numnonda, deputy governor of the BoT's Financial Institutions Stability, said the central bankhas worked hard with the financial institutions and lenders to set up measures to address the debt problems.
According to him, the measures cover plans to relievethe debt burden of borrowers with non-performing loans (NPLs), those with chronic debts,and borrowers with new debt.
He believes that loweringinterest rates,a tool used tomanage debt, can help lessen the problems of borrowers with persistent debt.
Why are Thais falling into debt?
Thais have certain behaviors that lead them tosinkdeep in debt.
Some start borrowing money and growing debt early, while many spend more than they earn. Data from the central bank show that over 58% of Thai people aged 25-29 have debt problems, more than 25% of which are NPLs. Most of the debts they have are primarily attributed to credit cards, personal loans and car/motorcycle hire-purchase, which often lead to NPLs.
The high household debt appears to lead to more NPLs in the automotive sector, causing a rise in the confiscation of vehicles.
Weeks ago, Surapol Opasatien, chief executive of the National Credit Bureau,saidin a Facebook post that about one million loan-default vehicles would be seized by lenders in the next four months from borrowers with non-performing auto car loans,mostly amongst Gen Y (27-42 years old) and Gen X (43- 58 years old).
According to the central bank, about 4.5 million or nearly half of 100 million NPL accounts have turned into NPLs during the Covid-19 pandemic due tolower income and job losses.
Almost 30% of the borrowers with credit card and personal loans said they have more than four accounts and a combined credit line 10 to 25 times their salary against an international standard of 5 to 12. They spend more than half of their monthly income on debt payments and many of them make a minimum payment. And that causes compound interest, making the balance larger, and lengtheningthe time they have to pay off the balance.
In addition, Thais don't have a financial safety net to deal with the unknown.
The data also show that over 62% of Thai households don't have enough money saved to weather unexpected events, pushing them to seek either formal orinformal loans when the need arises.
A survey by the central bank reveals that 42% of respondents admitted they have informal debt ofabout 54,300 baht on average per person. The study involved over 4,600 households from all regions ofthe country.
Some Thai workers, meanwhile, aredealing withrising debt, the highest in the past 14 years.
A survey of Thailand's household debt situation among the Thai workforce conducted by the University of the Thai Chamber of Commerce reveals that over 99% of respondents were in debt, mainly from daily living expenses as well ascredit card, home and medical loans.
The survey was carried out on 1,300 respondents nationwide with a monthly salary of up to 15,000 baht.
The average debt per household stands at 272,528 baht in 2023, a rise of 25.04% over 2022. The figures illustrate the highest level in the 14 years the survey has been conducted.
Thai seniors still have outstanding loanswhen they retire.
The central bank data shows that over one-quarter of people aged over 60 are in debt, most of it from agricultural loans, credit cards and personal loans. They owe about 415,000 baht per person on average.
Building a strong financial foundation is key to sustainable solutions to household debt
Sommarat Chantarat, an economist from Puey Ungphakorn Institute for Economic Research, said the household debt problem in Thailand mainly stems fromyoung adults who start borrowing and growing debt early, with most of the loans they take considered non-productive debt.
She was speaking recently at a seminar organised by the Thai Health Promotion Foundation.
This will affect their credit scores, making it difficult for them to get approval from lenders when they apply for a loan to startup their business in the future. This, in turn, would affect the country's development, she added.
Sommaratnoted that many Thai have fallen into debt as they have fluctuatingincomes and liquidity problems. Some are duped into debt due to a lack of financial literacy. The surge in theThai household debt is also attributed to government policies.
Sustainable solutions tohousehold debt should start with building a strong financial foundation together,she said.
"It requires a collective effort from all parties. If people work together, I believe the country's household debt problem could be resolved," she added.
