Finance Minister confident Thailand immune from EU financial crisis

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BANGKOK, 24 May 2012  – The finance minister is confident that Thailand will not be affected by the financial crisis in the EU. 

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said that even though the financial crisis among European Union countries looks set to continue for some time and rattle regional economy, its impact will not likely spread to other parts of the world.

Mr. Kittiratt’s confidence is backed by news on related governments’ moves to rein in the problems.

He added that the situation is not expected to escalate after major Greek banks have successfully raise funds while some EU countries with stronger position have lent help to some troubled member nations.

The Deputy PM also stated that there has been no sign that the crisis in the EU will have a direct impact on Thailand, where local financial institutions continue to demonstrate strong fundamentals with the Finance Ministry and the Bank of Thailand still keeping a close eye on all issues.