Two Sides of a Losing Philippine Coin

While watching the senate investigation on television, I cannot help but notice the various comments made by and in reference to the country’s economic sector. The Makati business club, for example, feels that this issue might bring about calls for president arroyo’s resignation. Meanwhile, financial analysts say that the controversy will not affect our country’s economy.

I do not want destabilization. I like it that our economy is doing better. GDP is up, the peso is strong (equally due to a weak dollar), and foreign perception is improving. I think it is high time that we start getting our act together. We owe it to ourselves, each other and to the next generation of Filipinos.

Now, along comes this whole ZTE-NBN Hullabaloo. Apparently, it is not a fad because the issue has already given birth to several other controversies such as Secretary Neri’s testimony before the senate, Abalos’ resignation, JDV’s ouster, and now Mr. Lozada’s corroboration. Suffice it to say that the issue, in showbiz terms, has staying power.

Now I am still unsure as to the truth, but whatever it is, I believe the Filipino people will be at the losing end.

Assuming that these allegations are true, then I can no longer imagine how much money goes to corruption in our country. We all know it is there, but we never really knew how much. Now, we hear that 60 million dollars is the going rate (the apparent ceiling of Mr. Lozada’s “permissible zone”). People have always thought that we are not a poor country; we are just continuously being robbed. If these allegations are true, then this proves that we have been right all along.

Sadly, in this case, being right is not a good thing.

Now, assuming that these allegations are false (yeah, I know, bear with me), then what we end up with are forces in government and society who will not stop until they have dismantled the status quo. Motives vary but I am sure that most of them will not be to the benefit of our country. It will be the “talangka mentality” at work.

In the small chance that a mere hoax lies at the heart of this media frenzy, then what we end up with are forces that will always bring down whatever has been built and a society that refuses to embrace the spirit of unity.

So either way, it doesn’t look good.

I hope that something can be done with regard to this issue, but I hope that in the process, the economy is not decimated leaving the tired and weary Filipino to pick up the pieces.

- Elgene L. C. Feliciano