Your free weekly newspaper since 2008 The AWOL Bazaar
issue 3 82 17th June 2016
Euro 2016 Page 3 Local Information I Am An Apeman
shake it all about brexit vote - could it affect thailand?
hua hin, THAILAND While there may be a few foreigners in our local area who are unaware of what ‘Brexit’ is, and probably many UK expats and tourists who would rather it went away, there is no doubt that next Thursday’s (23rd June) referendum on whether the UK should remain in or leave the European Union has the potential to have a major impact on not only the UK and Europe, but far beyond that. If the vote is to leave the EU, the so called Brexit, many are predicting it to be a major shock to the global economy, although it is often hard to know whether this is simply fearmongering by the pro-Remain side or genuine concern. What is true is that nobody really knows what the effects will be, and the odds are that it is all a bit of a charade, with politicians who were always regarded as Eurosceptics pushing the case for Remain (notably David Cameron and Jeremy Corbyn), while supposedly ‘independent’ bodies who make startling proclamations on the impact of ‘In’ or ‘Out’ turn out to be biased at source by their funding. There could certainly be an impact on things like currency exchange rates, which would obviously affect anyone changing their currency into baht, but truly the only thing that can be said with certainty is that there is, and will be, uncertainty, even after next week’s vote, which is, of course, the type of situation beloved by speculators, who are already gambling in the global forex casinos and pushing various currencies up and down, the British Pound in particular but also the Thai baht and others. If these shenanigans produce a consistently weaker baht it can only help Thai tourism, exporters and the expats already here, but a stronger baht does not bear thinking about from many perspectives.
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