Thai Elections Now Would Cause Uncertainty - Minister

[CrazyExpat]

NEW YORK (Reuters) - Dissolving Thailand's parliament to hold an election within weeks would only create uncertainty for international investors and tourists, Foreign Minister Kasit Piromya said on Thursday.

Red-shirted anti-government protesters plan another big rally in Bangkok on Saturday to demand Prime Minister Abhisit Vejjajiva call elections within 15 days, a poll that analysts say the government would almost certainly lose.

"To dissolve the parliament and hold an election now, it would provide more uncertainty, especially for the international and business community," Kasit told Reuters Insider during a visit to New York.

The protesters and Abhisit failed to reach agreement in two rounds of televised talks this week. Protest leaders rejected a concession offered by Abhisit on Monday to call elections by the end of the year, about 12 months ahead of deadline.

The protesters say the British-born Abhisit came to power illegitimately, heading a coalition party assembled after courts dissolved a party that led the previous coalition government.

Kasit said the government needed time to implement economic stimulus measures, pass the country's budget in September and discuss economic development measures and political reform before holding elections.

"Let the whole thing run it's course," he said. "Let's have more time to consult and come out with a definite program so everyone knows the rules of the game."

Despite the political turbulence, foreign investors continue to embrace Thailand, seizing on opportunity to invest in one of Asia's cheapest and now fastest-rebounding markets.

Foreign investors have snapped up $1.2 billion in Thai stocks since February 22, according to stock exchange data, helping to drive up the benchmark stock index and make it Southeast Asia's second-best performer after Indonesia.

"We have proven all along that we have been very friendly to the business community," Kasit said. "The Thai fundamentals are very good."

He said that among his concerns was expressing "confidence to the tourism industry that the political seemingly instability doesn't affect everyday life or the incoming foreign visitors."

The Thai prime minister on Wednesday tried to win over the mostly rural protesters with a $1.3 billion plan to halve debts for many farmers, echoing a signature policy of twice-elected and now fugitive former prime minister Thaksin Shinawatra, who remains highly popular among the "red-shirts."

Thaksin, ousted in a 2006 coup and later convicted in absentia of graft, lives in self-imposed exile.

Thai Elections Now Would Cause Uncertainty - Minister - NYTimes.com

[Thaimo]

The protesters say the British-born Abhisit came to power illegitimately, heading a coalition party assembled after courts dissolved a party that led the previous coalition government.

This is the part I have the most difficulty trying to understand. The fact that people disagree with the court decisions means it's ok to launch protests that clearly are designed to disrupt the country and force the government out? If new elections do happen, what if the protesters, or those who take the position opposing the protesters, don't like the election results? What happens then? More protests?

The way I see it, the proper way to handle this would be to launch political campaigns and try to win the next set of elections rather than what has been going on.