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Edition: U.S. Article Comments (2) Slideshow Video Full Focus Photos of the week Our top photos from the past week. Full Article Follow Reuters Facebook Twitter RSS YouTube Read Thai women cheer first female prime minister 03 Jul 2011 Casey Anthony murder case may go to jury Monday 03 Jul 2011 Huge rare earth deposits found in Pacific: Japan experts 2:58am EDT Son of Libya's Gaddafi tells West: "You cannot win" 03 Jul 2011 Casey Anthony murder trial nears conclusion 03 Jul 2011 Discussed 194 Minnesota government shutdown begins after talks fail 101 White House snubs McConnell invitation to Obama 86 U.S. cost of war at least $3.7 trillion and counting Watched Hefner's revenge; Ryan Reynolds stops traffic Fri, Jun 17 2011 A Tokyo-Paris flight in under three hours on the horizon Fri, Jun 24 2011 DSK chased by media Sun, Jul 3 2011 Thai election brings hope of stability Tweet Share this Email Print Factbox Factbox: How Thailand's election works Fri, Jul 1 2011 Related News Thaksin party wins Thai election by a landslide Sun, Jul 3 2011 Thai red shirts predict peace after election win Sun, Jul 3 2011 Analyst view: Thai opposition wins in landslide, polls show Sun, Jul 3 2011 Edgy Thailand votes, bracing for further turmoil Sat, Jul 2 2011 Analysis & Opinion MQM’s pullout – Is it too late to have an impact ? “Made in Egypt, by Egypt, for Egypt” Related Topics World » Thailand » Related Video Thaksin sister to lead Thailand Sun, Jul 3 2011 1 / 12 Puea Thai Party's Yingluck Shinawatra waves to supporters gathered outside party headquarters in Bangkok after her party triumphed in Thailand's general elections on July 3, 2011. Thailand's opposition won a landslide election victory on Sunday, led by the sister of former Thai prime minister Thaksin Shinawatra in a triumph for red-shirt protesters who clashed with the army last year. Credit: Reuters/Adrees Latif By Vithoon Amorn BANGKOK | Mon Jul 4, 2011 3:39am EDT BANGKOK (Reuters) - Thailand's powerful military accepted on Monday a stunning election victory by the party of fugitive former Prime Minister Thaksin Shinawatra, adding to a new sense of stability in a country plagued by unrest since his ouster in a coup five years ago. A day after the victory by the Puea Thai Party headed by Thaksin's youngest sister, Yingluck Shinawatra, the military agreed not to intervene or stop her from forming a government, according to the outgoing defense minister. "I can assure that the military has no desire to stray out of its assigned roles," said General Prawit Wongsuwan, a former army chief close to military leaders involved in the 2006 coup that removed Thaksin "The army accepts the election results," he told Reuters. Puea Thai's outright majority of an estimated 264 seats in the 500-seat parliament makes it hard for Thaksin's opponents to stop Yingluck becoming Thailand's first woman prime minister, which might have ignited protests by her red-shirted supporters who clashed with the army in weeks of unrest last year. Yingluck announced she would form a five-party coalition that would control about 60 percent of parliament, giving her a strong hand to fulfill her election promises. "Chances of blocking Puea Thai in the near term are severely limited," said Roberto Herrera-Lim, Southeast Asian analyst at political risk consultancy Eurasia Group. "The instability everyone has been worried about now looks less likely. The military will have to be pragmatic now." The 44-year-old businesswoman plans to roll out a long list of Thaksin-style populist programs that could influence the direction of Southeast Asia's second-largest economy - from subway extensions to big wage increases and various giveaways aimed at boosting spending power, especially in rural areas. Thai stocks jumped more than 4 percent as the scale of her victory persuaded some investors that Thailand could be more stable after a six-year crisis marked by the occupation of Bangkok's two airports, a blockade of parliament, an assassination attempt and bloody street protests. Thailand's baht currency rose 1 percent to a one-week high against the dollar on hopes foreign investors would return following $1.4 billion of outflows of global capital since election campaigns began in earnest at the start of May. REBUKE OF ELITE The vote is a rebuke to the royalist establishment in Bangkok that backed Prime Minister Abhisit Vejjajiva and suggests broad support for policies championed by Thaksin, a populist hero elected prime minister twice, in 2001 and 2005. Thaksin told reporters he had no desire to be leader again. "I don't want to be prime minister. I've been with the party too long. I want to retire," he told reporters at his villa in Dubai, where he has been living in self-imposed exile to avoid jail for graft charges he says were politically motivated. Yingluck has brushed aside concerns about the cost of the promises made during her election campaign, from tablet computers for schoolchildren to a big increase in the minimum wage, which critics say will damage the economy. "That's not true, we know what to do. We'll reduce costs for people and we know how to generate the income that we'll give back to them," she told Reuters. The stridently anti-Thaksin Nation newspaper accepted the result but pulled no punches on the challenge ahead. "The election is over but the hatred remains," it headlined its leader column. "It's time for ordinary Thais to take reconciliation into their own hands." Abhisit said on Monday he had decided to step down as party leader after conceding defeat quickly on Sunday. Just over a year ago, the military put down a protest movement by Thaksin's red shirt supporters in Bangkok and 91 people lost their lives. Nearly 2,000 were injured. The red shirts accuse the rich, the establishment and army top brass of breaking laws with impunity -- grievances that have simmered since the 2006 coup -- and have clamored for the return of Thaksin. Thaksin said on Sunday he would "wait for the right moment" to come home. "If my return is going to cause problems, then I will not do it yet. I should be a solution, not a problem," he told reporters in Dubai. (Additional reporting by Panarat Thepgumpanat, Jason Szep and Martin Petty in Bangkok; Praveen Menon in Dubai; Editing by Nick Macfie and Alan Raybould) World Thailand Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (2) kc10man wrote: Great another prime minister without any viable leadership experience at all. They might as well elect Sarah Palin or Britteny Spears. Jul 03, 2011 12:03am EDT -- Report as abuse CaptainEddie wrote: “The former telecommunications tycoon himself scored two landslide election wins and is idolised by the poor as the first politician to address the needs of millions living beyond Bangkok’s bright lights.” That one paragraph says it all. The wealthy elite (and I exclude King Bhumipol) had it all their own way until Thaksin came along. The corrupt wealthy elite and military have indeed taken advantage of their position in hi so to manipulate even justice. Yes, he was corrupt but isn’t that part of the job descrition of a politician. While he was having a party, he at least he invited the average Thai to participate. He provided universal health care and cheap loans for rice seed etc. These ideas were an anethema to the elites who don’t want to even toss the impoverished Thai people a bone. Jul 04, 2011 1:24am EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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