Give peace a chance: BOT symposium

Despite their different views on the economy, these apolitical citizens hold a common stance on the current political tensions, that being "no violence" and "change, if any, under the Constitution".

Before the start of the annual conference, reporters ques¬tioned Ammar Siamwalla, a highly influential economics guru and frequent participant in these annual symposia, about his political views.

When asked what he thought about a proposed "royally appointed prime minister", he said he disagreed, adding that whatever was settled on must be done under the present Constitution.

"Any change of prime minis¬ter must be the responsibility of Parliament, or else there must be a parliamentary dissolution. It's no use pointing fingers at each other. We need a peaceful solution," Ammar said.

That view was shared by oth¬ers.

Thailand Development Research Institute research director Somchai Jitsuchon said the political solution should be peaceful and democratic. The two sides should be willing to negotiate and compromise.

"The country can no longer endure being divided into fac¬tions. If they come to terms with each other, the economy will improve," he said.

Somphob Manarangsan, a lecturer at Chulalongkorn University's Faculty of Economics, said Tuesday's statement by Army chief General Anupong Paochinda had caused many to breathe a sigh of relief and helped ease the political tension.

But the government should act swiftly to end the state of emergency before continued uncertainty affects the money and capital markets, as well as the macroeconomy as a whole.

Bank of Thailand Governor Tarisa Watanagase, who chaired the event, believes Thailand will emerge safely from the turmoil.

"Thailand has gone through several negative periods of poli¬tics in the past, and the econo¬my has survived each one. That reflects the resiliency of our economy. This time should be the same. We have a strong economy, a strong fiscal status, strong external stability and strong financial institutions; therefore, we're strong enough to handle the present political turmoil," she said.

The governor painted an upbeat view of the situation, although she admitted politics could affect confidence and spending.

anoma@nationgroup.com