Blame employers
Re: "BoT blames easy loans for household debt woes", (Business, Sept 17).
The Bank of Thailand's concerns over household debt and the easy access to loans gives observers the impression that at over 78% to GDP ratio is alarmingly high and needs a solution.
Only recently a Thai economist, Chartchai Parasuk, with the article in the Bangkok Post, "Is it all the Bank of Thailand's fault?", (Opinion, Sept 12), reported that a country as wealthy as Switzerland debt ratio to GDP is well over 100% and it doesn't find it a problem. As reported by The Economist, the problem is not households or individuals taking out loans, which in most Thai households is a necessity, but more likely the ability to repay the loan.
There is no point in the Bank of Thailand laying the blame at the door of loan sharks and online shopping when the real blame should be put at the door of employers who continue to pay wages that force individuals and households to take out loans in the first place.