Thai Junta Leader Promoted to Prime Minister

Thailand’s coup leader General Prayuth Chan-ocha was appointed prime minister on Thursday by a legislature he hand-picked, giving the army chief a veneer of legitimacy even while the military presses on with efforts to silence its critics.

The army seized power on May 22 in a bloodless coup following six months of sometimes deadly street protests that contributed to the ousting of Prime Minister Yingluck Shinawatra, whose populist government was opposed by the Bangkok royalist establishment.

Although Prayuth’s appointment paves the way for an interim government to be set up in the coming weeks, power will remain firmly in the junta’s hands. The general has said he plans to press ahead with a year of political reforms before a new election that he said will take place by late 2015.

“It is designed to give him the power to run the country according to the law. The premier position will give him legal power in the Thai governance system,” Gothom Arya, a lecturer in human rights studies at Mahidol University, told Reuters.

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