toically, we have the june in power, we have all of these talks of reforms.light of this global route we are seeing how are these reforms going? separate big questions in terms of reform, nothing concrete on the surface as to how they will reform thailand. we are all looking forward to seeing significant changes. thailand is at a crossroads, really. we have had 30 years of above average growth rate. we need to find a new formula. we are working on that front. with regards to economic prospects we are a very open economy. that means we are very much tied to global events. basically, global demand is slowing that is affecting overall sentiment in the country. again, we need to find a solution to that. that they critics say are there to enforce political power, not grow the economy. is that criticism valid? korn: i think they started out that way, the junta, that is. they achieved peace in the streets very quickly. it was overly optimistic to expected military government to be able to develop the economy. but the economy has been so poor that they need to turn t

i always read it to say that toically they were ichingtching go and turmoil scuppered everything.ndreas: i think for guidance will be ditched. and forward guidance needs to be ditched, because it is not what central banks should be about. i think central banks should be able to keep their options open and not be guided by the markets. we've got the cart in front of the horse here. it is the markets, as i referred to in the early block, the markets seem to be dictating fed policy. and that is what the market is expecting. that is fundamentally wrong. that has basically happened since the greenspan put. we have got to get away from that policy. if that means of setting the markets for a while, that is a necessary price to pay to avoid a much greater calamity that might happen. rocause right now the ze interest rate policies have achieved the opposite of what they were supposed to. s global stock ofh debt i higher than it was precrisis. we are in a worse position with less growth. that is a real conundrum. the policies and quantitative easing on top have not produce the goods. mark: