Taksin's last stand?..

So today is billed as 'D-day' for Taksin Shinawatra the caretaker PM of Thailand. Another mass demonstration is due tonight at the Sanam Luang parade/event ground close to the Grand Palace and it is widely believed that the mounting pressure will see the Premier stand down before the April 2nd snap elections. Taksin however has repeatedly stated that he will not stand down unless voted out or if his Majesty King Bhumibol tells him to go.

For those of you who have not been aware of recent events the main reason for the backlash against Taksin, who has presided over a fairly impressive economic rebound from 1999 is due to the sale of the Shinawatra family's Shin Corp communications company. The company was founded by Taksin and passed onto his family in the hope to ensure against the accusations that are now being levelled. It is alleged that Taksin manoeuvred the company using his influence and even by passing regulations within the communications industry to remove competition and guarantee contracts. One particular regulation that was passed by the Taksin government was to 'protect national interests' by restricting foreign investors from purchasing a majority stake in certain industries, this just happened to stop a well placed competitor from making use of foreign capital at a critical point and led to huge gains for Shin Corp. Then just last year this regulation was revoked and suspiciously soon after Taksin made a $1.9bil deal to sell Shin Corp to the Singaporean government’s Temesak holding. More recent revelations have brought more light on this merky deal as Taksin's son and daughter have been disclosed as purchasing an 11% stake on the eve of the deal!

Watch this space to see if Taksin manages to hold on or is forced out, it should be an interesting few weeks but I really hope that the protests are handled peacefully by the security forces; It would be terrible if as in 1992 there is violence. However I am not concerned about any wider trouble as regardless of politics the love of the Thai monarchy is so strong that His Majesty himself ensures the stability of the country.