Dec 15, 2011

Business starts to worry over Noy plot vs SC chief

December 13, 2011

The vicious clash between the Executive and the Judiciary along with efforts to oust Chief Justice Renato Corona by President Aquino and his allies have the potential of rocking the markets which are already feeling the pinch of the European debt crisis, business executives said yesterday.

The head of the local stock exchange said while the friction between Aquino and Corona has not yet adversely affected the business sector, particularly the stock market, it is expected to have an impact if the issue lingers and worsens.

PSE president Hans Sicat said the move to oust the Chief Justice if it continues to “deteriorate,” may have an adverse effect on the business sector next to the Eurozone issue.

“We hope it does not affect the business sector because the problem with a deteriorating situation is that if investors feel that Philippines, Inc. is very unstable then it will have a negative effect

in the market, including the stock market,” Sicat said.

Source: Trade Union Congress of the Philippines - Home

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