The party’s erstwhile ally, the Pheu Thai Party, which finished second, then teamed up with the military-backed parties and installed Srettha in the top job. Now, Srettha is gone too.
Most pundits expected him to be cleared. Only last month he received a royal decoration from King Maha Vajiralongkorn, which was interpreted as a nod that everything would be okay.
“I’ve been giving interviews almost every day and my prediction was that the Move Forward Party would definitely be dissolved, which was correct, but I thought Srettha would be spared,” Chachavalpongpun said.
“That was based on my belief that Srettha had entered into a kind of super deal with the royal elite and to dump him at this point in time would have been unimaginable. But I was wrong. At the end of the day, they want to stamp their authority and say, ‘We are the ones who control politics’.”
Srettha was not in court for the decision and said afterwards that he only caught the end of it because he had been in meetings.
“I am sad that I would be branded as a prime minister with no ethics. I insisted that I am not that kind of person,” he told reporters. “But … the court has made its verdict, and I accept the verdict.”
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His cabinet will remain in place as caretaker until parliament selects a new prime minister.
The ruling on Wednesday opens the door for Paetongtarn Shinawatra, the daughter of Thaksin Shinawatra, the billionaire figurehead of Pheu Thai who recently returned to Thailand after years in exile. Rounding off the trio of high-stakes cases roiling Thailand, he is also due in court next week on charges he defamed the monarchy in an interview with South Korean media almost 10 years ago.
Chachavalpongpun’s prediction for prime minister, though admittedly fraught, was Anutin Charnvirakul, the leader of the Bhumjaithai Party, which was second-largest partner in the Srettha’s coalition.
“This is someone that you should observe quite closely because he’s a Mr Fixer,” Chachavalpongpun said. “He’s very good at manoeuvring. He has great connections with all the political parties and he has a hotline to the monarchy.”
The political instability has spooked investors in South-East Asia’s second-largest economy. The government has estimated GDP growth of just 2.7 per cent for 2024, behind its regional peers, and its sharemarket has been performing poorly.
Srettha’s ambition efforts to jumpstart the economy, which included expensive cash handouts, are in doubt.
Move Forward Party figurehead Pita Limjaroenrat was among 11 leaders banned from politics along with the party last week. Prepared for court’s decision, however, the reform movement quickly regrouped under a new name and leadership. It unveiled its new political vehicle, the People’s Party, and its 37-year-old leader, Natthaphong Ruengpanyawut, on Friday last week.
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