Thai PM Charged With Violating Constitution Must Step Down

A Thai court found Prime Minister Yingluck Shinawatra guilty on Wednesday of violating the constitution and said she could no longer serve as caretaker premier, a decision likely to increase tensions in the bitterly divided nation.

Judges delivering the verdict said Yingluck had abused her position by transferring the country’s National Security Council chief to another post in 2011 so that a relative could benefit from related job moves.

It was unclear whether Yingluck’s cabinet, or cabinet members at the time of the transfer in 2011, would have to step down along with her. Judges were still reading the verdict.

Yingluck’s removal is likely to bring her supporters into the streets in protest.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza