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Thai Calm May Rely on Delaying Thaksin Return to Please Army

Thaksin Shinawatra’s allies plan to use their electoral mandate to address what they call injustices committed since a coup in 2006. Moving too fast risks conflict with the Thai military that overthrew them.

The win for Pheu Thai, led by Thaksin’s sister, Yingluck Shinawatra, boosted stocks and the currency as investors shed their pre-election jitters and hailed the formation of a stable government. The incoming administration must overcome resistance from Thailand’s military, courts and bureaucracy as it seeks to allow Thaksin to return from a three-year exile and change the constitution to reduce the power of non-elected institutions.