It is an icon in the midst of Bangkok's impressive skyline: the never-completed skyscraper named Sathorn Unique, also known as the "Gost Tower" by the locals. The construction of this 50-storey building was stopped in the XNUMXs due to the economic crisis. Investors went bankrupt, workers lost their jobs and the economy collapsed.
Three captains of industry warn of an imminent crisis, comparable to the tom yum kung crisis (financial crisis) of 1997. They see the same developments that then led to dozens of bankruptcies: people are buying condos like crazy and getting deep into debt .
Thailand comes to the aid of ailing Europe
Thailand, together with Indonesia and Malaysia, has come to the aid of ailing Europe. They have poured many billions of dollars into the coffers of the International Monetary Fund to curb the financial crisis on the old continent.
Thai government and BoT fight over huge debt
The government is on a collision course with the Bank of Thailand (BoT) over a debt of 1,14 trillion baht, a legacy of the 1997 financial crisis.
