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Thai army defends business area from 'red shirts'
Source: Agencies |
April 20, 2010, Tuesday
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THAI soldiers threw a security cordon around Bangkok's business district after "red shirt" protesters demanding early elections threatened to march into the area today, raising fears of a bloody crackdown.
The red shirts, who have already taken over the capital's upmarket shopping district, want to take their campaign to Silom Road, full of office buildings and the headquarters of the country's biggest lender, Bangkok Bank.
Traffic along the road was fairly light early on Tuesday, as many motorists decided to avoid the area. Soldiers patrolled the street and an overhead walkway that links the Skytrain with an underground railway station.
Late on Monday, Prime Minister Abhisit Vejjajiva again rejected demands to call an election he would almost certainly lose, saying the red shirts must be brought under control.
"If we allow those who use force to threaten a political change, we will have a lawless country," he said.
Given the intransigence on both sides after more than a month of protests, analysts fear further violence.
"In all reality, it seems right now that another crackdown is the only way out," said Danny Richards, an analyst at the Economist Intelligence Unit.
The financial toll from the standoff, which has spawned rumours of a takeover by hardliners in the military in coup-prone Thailand, is growing.
Fitch ratings cut the country's long-term currency credit outlook to negative from stable on Monday. The markets have taken a beating and hotel occupancy is around 20 percent in a country heavily reliant on tourism for jobs.
Amata Corp, Thailand's biggest seller of industrial land, said on Monday some Japanese clients had delayed signing land deals because of the political unrest.
The red shirts are supporters of former Prime Minister Thaksin Shinawatra, who was ousted by the army in 2006.
Analysts say the six-week protest has evolved into a dangerous standoff between the army and a rogue military faction that supports the red shirts and includes retired generals allied with the twice-elected, now fugitive Thaksin.
HEAVYWEIGHT ALLIES
The 60-year-old billionaire urged Abhisit to call snap elections to end the impasse. If Abhisit resisted, there would be further crackdowns and possibly a military coup, Thaksin told Reuters by telephone during a stopover in Brunei.
Both sides want to be in power during a military reshuffle in September. If Thaksin's camp is governing at that time, analysts widely expect it would bring about major changes by ousting generals allied with Thailand's royalist establishment.
The red shirts targeted Bangkok Bank because of its honorary adviser, Prem Tinsulanonda, who is accused of masterminding the 2006 coup that toppled Thaksin. The top aide to the Thai monarch is also seen by the mostly poor "red shirts" as a symbol of the unelected elite that has real power in Thailand.
Over the past year Thaksin has enlisted heavyweight allies to buttress his red shirts, including former army chief Chavalit Yongchaiyudh, who government sources said led other current and former generals in providing heavy arms to the red shirts ahead of the bloody April 10 clash with troops.
Chavalit, chairman of the red shirts' parliamentary wing, the Puea Thai Party, has denied involvement in the violence.
He said on Monday he was seeking an audience with Thailand's ailing 82-year-old King Bhumibol Adulyadej to try to end the standoff, a move seen as an attempt to draw the revered king into the crisis. Most doubted the king would meet with him.
Adding to the combustible mix, rival royalist "yellow shirt" protesters threatened a massive rally if the government failed to act within seven days to end the unrest.
The red shirts, who have already taken over the capital's upmarket shopping district, want to take their campaign to Silom Road, full of office buildings and the headquarters of the country's biggest lender, Bangkok Bank.
Traffic along the road was fairly light early on Tuesday, as many motorists decided to avoid the area. Soldiers patrolled the street and an overhead walkway that links the Skytrain with an underground railway station.
Late on Monday, Prime Minister Abhisit Vejjajiva again rejected demands to call an election he would almost certainly lose, saying the red shirts must be brought under control.
"If we allow those who use force to threaten a political change, we will have a lawless country," he said.
Given the intransigence on both sides after more than a month of protests, analysts fear further violence.
"In all reality, it seems right now that another crackdown is the only way out," said Danny Richards, an analyst at the Economist Intelligence Unit.
The financial toll from the standoff, which has spawned rumours of a takeover by hardliners in the military in coup-prone Thailand, is growing.
Fitch ratings cut the country's long-term currency credit outlook to negative from stable on Monday. The markets have taken a beating and hotel occupancy is around 20 percent in a country heavily reliant on tourism for jobs.
Amata Corp, Thailand's biggest seller of industrial land, said on Monday some Japanese clients had delayed signing land deals because of the political unrest.
The red shirts are supporters of former Prime Minister Thaksin Shinawatra, who was ousted by the army in 2006.
Analysts say the six-week protest has evolved into a dangerous standoff between the army and a rogue military faction that supports the red shirts and includes retired generals allied with the twice-elected, now fugitive Thaksin.
HEAVYWEIGHT ALLIES
The 60-year-old billionaire urged Abhisit to call snap elections to end the impasse. If Abhisit resisted, there would be further crackdowns and possibly a military coup, Thaksin told Reuters by telephone during a stopover in Brunei.
Both sides want to be in power during a military reshuffle in September. If Thaksin's camp is governing at that time, analysts widely expect it would bring about major changes by ousting generals allied with Thailand's royalist establishment.
The red shirts targeted Bangkok Bank because of its honorary adviser, Prem Tinsulanonda, who is accused of masterminding the 2006 coup that toppled Thaksin. The top aide to the Thai monarch is also seen by the mostly poor "red shirts" as a symbol of the unelected elite that has real power in Thailand.
Over the past year Thaksin has enlisted heavyweight allies to buttress his red shirts, including former army chief Chavalit Yongchaiyudh, who government sources said led other current and former generals in providing heavy arms to the red shirts ahead of the bloody April 10 clash with troops.
Chavalit, chairman of the red shirts' parliamentary wing, the Puea Thai Party, has denied involvement in the violence.
He said on Monday he was seeking an audience with Thailand's ailing 82-year-old King Bhumibol Adulyadej to try to end the standoff, a move seen as an attempt to draw the revered king into the crisis. Most doubted the king would meet with him.
Adding to the combustible mix, rival royalist "yellow shirt" protesters threatened a massive rally if the government failed to act within seven days to end the unrest.
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