BOT:European debt has limited impacts on Thai economy

BANGKOK, February 7 (TNA) - The Bank of Thailand (BOT) says that impacts from the ongoing European debt crisis on the Thai economy are likely to be limited. BOT Assistant Governor Pongpen Ruengvirayudh assessed that, given the moderate amount of European investment in Thailand when compared with Asian-Pacific countries, the Thai economy should only be limitedly affected by the ongoing European debt crisis. Pongpen warned, however, that the European debt crisis could affect the Thai economy mainly in the form of capital outflows, as troubled European banks would be required to recapitalize. The BOT assistant governor acknowledged that the Thai central bank has kept a close watch on the financial situation in Europe. (TNA)