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Conflicts of Interest May Lead to National Disaster: Thai King
Thai King Bhumibol Adulyadej warned Thursday that disputes between state parties caused by conflicts of interest may lead to national disaster and that there is not just a single formula for economic development, the Thai News Agency reported.
Speaking to the gathering of Thai ambassadors and consuls general in his palace in resort city Hua Hin, some 180 kilometers south of Bangkok, the king said disagreement and arguments could occur when people work together.
When disagreement and arguments are based on theoretical principles, it would bring no harms to the economy and the nation while those caused by conflicts of interest could lead to national disaster, the king said.
Interests can be classified in many aspects, including interest of satisfaction, which may not be in financial or power forms, but in forms of gaining one's reputation and achieving one's principle or theory, he said.
State officials should seek ways to share or assimilate their interests for the sake of societal and national benefits, he suggested.
The king also pointed out that there are many theories or approaches of economic development, not just a single one.
The king made the remark after the government fired governor of the Bank of Thailand Chatumongol Sonakul on Tuesday.
The dismissal followed a week-long dispute between Chatumongol and Prime Minister Thaksin Shinawatra over interest rate policies.
The government has argued a review was needed, while the central bank believed that low interest rates was the best policy at the moment.
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