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Friday, July 15, 2005
Editorial: Bad for the economy
WE MUST admit that the massive rally led by the United Opposition against President Gloria Macapagal-Arroyo was a show of force. Estimates of the crowd in that rally, deemed as the biggest so far against the administration, ranged from 15,000 to 60,000 at its peak.
The issue we would like to make here however is not the size of the crowd but the holding of such rallies nearly everyday. We do not take it against the opposition and other anti-Arroyo forces for holding rallies. It is their right to do so under the Constitution.
But to conduct protest actions almost daily, in Makati City in particular, is just too much. It has to stop and Mayor Jejomar Binay of Makati City should realize the damage it is doing to business in his city, which is the Philippines's premier financial district, and to the country's economy in general. In fact, credit rating agencies have already downgraded their respective ratings for the country, owing to the political instability in the country.
The rallies project an image of chaos in the country. Yes, we are in a political crisis now but the opposition should not rub it in by holding protest actions regularly.
Vivian Yuchengco, an official of the Philippine Stock Exchange, could not take it anymore as she assailed the rallies because of its adverse effect on business in Makati City. Young urban professionals, on the other hand, were indifferent to the rallies and were not emboldened enough to join them as they said they prefer letting Constitutional processes work toward punishing erring government officials, including the President.
The rallies have to stop. The opposition should avail of the Constitutional procedures if they really want to kick out Arroyo of Malacañang. Let the rule of law prevail. If they say they love the country, they should not resort to actions that would only destroy the nation they profusely claim to love.
(July 15, 2005 issue)
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