ECOP warns of difficult times ahead

The opposition’s threat to mount massive street protests could turn the country’s economic condition from bad to worse, the business community warned the public yesterday.

"This development is very disturbing and alarming for the business community, particularly for the export business which is already having a lot of financial problems," Employers Confederation of the Philippines (ECOP) president Rene Soriano said.

Former President Corazon Aquino and Susan Roces, wife of President Arroyo’s chief rival in last year’s election, will lead mass protests this week to press for the "truth" after the impeachment bid against Mrs. Arroyo failed in Congress.

While Malacañang belittles the opposition’s capability to launch massive rallies, Soriano said continuing street actions could adversely affect the operations of many commercial establishments.

Some 96.6 percent of these are small and medium enterprises, which Soriano noted are unlikely to thrive under the serious impact of sustained rallies. "You could just imagine what the result of these rallies and demonstrations would be if these are done on a sustained basis of two to three times a week," he said.

In the past months, Soriano said many business companies in Makati have suffered massive financial loss due to demonstrations mounted by anti-Arroyo groups in the financial district of Makati.

But the coming rallies pose a more serious threat than the ones held in Makati considering the fact that there is now a move to unify the various opposition groups, Soriano explained. — Mayen Jaymalin