1.   But he expected business to pick up after April and May until the government floated the baht and increased the value-added tax, knocking the wind out of consumers.

2.   Chavalit agreed to go along with the plan to float the baht and received a file of documents to advise other ministries to prepare for the baht flotation.

3.   Chavalit was forced to float the baht.

4.   Fischer was also informed, and he agreed with the idea to float the baht.

5.   Following attacks by currency speculators, the Thai government was forced to float the baht in July.

6.   For example, the baht was floated and consequently devalued two days after the Thai Prime Minister gave the assurance it would be otherwise.

7.   He said TOT may compromise to avoid any chain effect, such as what happened to financial institutions when the baht was floated.

8.   Shortly after that Rerngchai and Chaiyawat caved in to pressure and agreed to float the baht in July.

9.   Shortly after that Rerngchai and Chaiyawat caved in to the pressure, agreeing to float the baht in July and abandoning the fixed foreign exchange regime.

10.   Since the baht was floated in the middle of last year, most consumers have cut down on unnecessary expenses.