Thailand's caretaker Prime Minister Thaksin Shinawatra called a special cabinet meeting Wednesday morning after deciding to step down Tuesday night, likely to discuss new lineup and possible successor.

It is still uncertain who will succeed Thaksin, perhaps a successor with clean record, with less obvious ties to him. However, some party factions are backing their key man.

Though political reform will top new administration's agenda, the financial markets will welcome an appointment of Somkid Jutusripitak, former Commerce Minister and Deputy Prime Minister, over others given his experience in business and macroeconomic policy.

Meanwhile, the Democrat Party members is scheduled to meet with former opposition parties this afternoon to discuss their next move following Thaksin's announcement that he will step down last night.

Meanwhile, Thai Privy Council's Chairman Prem Tinsulanonda, the chief advisor of the King, said on Wednesday that he believes the situation of political strain will ease after Thaksin's decision of step aside.

Source: Xinhua