World | Other World Stories
Thailand army chief allays coup fears
Thai army chief Anupong Paochinda told his top commanders on Monday the military would not intervene in a worsening political struggle, his spokeswoman said, as the stock market slid on speculation of another coup.
- Reuters
- Published: 21:23 June 2, 2008
- Image Credit: Reuters
- Protesters wave Thai national flags during a rally in Bangkok on Saturday seeking the ouster of Prime Minister Samak Sundaravej's government.
Bangkok: Thai army chief Anupong Paochinda told his top commanders on Monday the military would not intervene in a worsening political struggle, his spokeswoman said, as the stock market slid on speculation of another coup.
Anupong, who took the top army job more than a year after a September 2006 coup against former prime minister Thaksin Shinawatra, said the strife between opponents and supporters of Thaksin had to be resolved "by rule of law".
"The army chief has assured unit commanders that there will be no coup and he will not use force against the people," Colonel Sirichan Ngathong told reporters after a regular monthly meeting between Anupong and senior officers.
"This is not the time for soldiers to go out and do anything," she quoted him as saying.
A tense standoff between riot police and anti-government protesters at the weekend sent the stock market sharply lower as investors, already worried about slower exports and soaring inflation, fretted that another coup might be on its way.
The Bangkok bourse fell 2.8 per cent, adding to the 4.8 per cent retreat it suffered last week, it's biggest weekly decline since August 2007.
Finance Minister Surapong Suebwonglee said the protests were hurting the economy, but added he did not expect unrest.
"I have to admit that the problems over the past week have affected confidence," he told reporters.
"But most people appear to understand that the situation will not turn violent or trigger a coup."
More from Other World Stories
More from World
News Editor's choice
-
6,000 cups and counting: Addicted to that tea
This cafeteria in Al Mamzar attracts thousands of customers daily, including the rich and not so rich
-
Swimming pool horror: Twins hospitalised
Twins rushed to hospital after collapsing from chlorine inhalation at swimming pool in their villa
-
Play your cards right with credit card interest
UAE Central Bank plans to cap interest rates, but are you paying thirty-five per cent now?
