Magkano po ba utang ng pilipinas?
Mga staple videoke anthem mo, ilabas mo na. Wag ka nang mahiya! Ano ang nasa videoke line-up mo?read more
Love can survive under the rainbow flag! Agree? The question is, how can you make it last? Share your stories here.read more
What is the most kilig worthy moment you have made for your special someone? Share us your stories here.read more
Get this limited edition PEx Teddy pin this month! Share it to your PEx special someone!read more
Celebrate the hearts day with your favorite volleybelles this weekend. Check out the games here.read more
Magkano po ba utang ng pilipinas?
sabi daw bawat isa sa atin eh may utang ng P70,000...isama mo pa daw *** mga ipapanganak pa lang. kewewe, tsk tsk tsk.
Southeast Asia's most expensive white elephant
In 1976, construction work began on what was to become the Philippine’s--if not Southeast Asia’s biggest and most expensive white elephant. The despot Ferdinand Marcos, ever on the lookout for ways to scam his countrymen found an easy way of killing two birds with one stone: pocket millions upon millions of dollars through kickbacks and under-the-table deals while seeming to address the country’s heavy dependence on imported oil.
Thus the scheme to build the Bataan Nuclear Plant was conceived together with a handful of Marcos’ trusted cronies, most notably Herminio Disini who arraigned the deal for millions of dollars in kickbacks from Westinghouse, the US firm that won the allegedly rigged bid.
Soon after that deal, Disini moved into a Castle in Vienna and has apparently avoided arrest or prosecution for his involvement in this or any of the many other questionable businesses schemes he hatched during the Martial Law years.
Fast forward to 2004. It is now almost 31 years later. The Bataan Nuclear plant has not produced a single watt of electricity…and the interest alone on the loan being paid by the each and every Filipino is currently estimated at $155,000.00 dollars a day. Even by US economic standards (the worlds largest and most powerful economy), that amount is significant. For a Third-World economy like the Philippines, it is crushing!
Just imagine the thousands upon thousands of schoolchildren that could have had their education paid for by that money. Imagine the thousands of sick Filipinos without healthcare that could have benefited from it. Imagine the miles and miles of well-paved roads that could have been built with it. Instead, each and every day the Philippines pays foreign banks $155,000.00 dollars…never to see those funds again.
Something has to be done! Parties responsible for this fiasco need to be brought to justice. If American business icons like Enron’s Kenneth Lay and Martha Stewart can be punished for acts that pale in comparison to the plunder that Marcos and his cabal of scalawags visited on the Philippines, why are those scalawags still running around scot-free?
The Bataan Nuclear Power Plant, located 60 miles (97Km) north of Manila, took eight years to build at the cost of 2.3 billion dollars. When it was finally completed in 1984, it had cost three times as much as a comparable plant built in South Korea.
Shortly after borrowing the 2.3 Billion dollars needed to build the nuclear plant, Ferdinand Marcos and company fled the country in February 1986. That same year a team of international inspectors visited the Bataan power plant and declared it to be unsafe and inoperable. Not only was the plant built along several earthquake fault lines, it was also dangerously close to the then-dormant Mt. Pinatubo volcano.
Now let's go back in time. The year is 1927 and Alexander Sack, a Russian international law scholar working in Paris was formalizing what was to be known as "The Doctrine of Odious Debts." In it the pre-eminent professor noted that: "If a despotic power incurs a debt not for the needs or in the interest of the State, but to strengthen its despotic regime, to repress the population that fights against, or for purposes that "serve interests manifestly personal," this debt is odious for the population of the state. "This debt is not an obligation for the nation; it is a regime's debt, a 'personal' debt of the power that has incurred it, consequently it falls with the fall of this power."
Under the doctrine of Odious Debts--as further refined by international standards, three conditions must be present before a state can repudiate a debt: 1. The debt must have been incurred without the consent of the people of the state. 2. The debt can not have benefited the public in that state. And 3. The lender must have been aware of these two conditions.
According to Toronto-based Probe International, in an October 19, 1999 article authored by Patricia Adams, the conclusion they arrive at is: "Given that large payments allegedly went to Marcos and his cronies, that the Filipino people never benefited from the plant, and that the plant was unsafe, Probe International says the Philippine government should declare the outstanding Bataan plant debt odious and send it to international arbitration."
Might this be a way we can finally rid ourselves of some of the crushing debt that Marcos and his greedy band of thieves bestowed on us and our children? And will our elected officials have the courage and common sense to send this matter to International Courts for arbitration?
i think we should borrow to get more military equipment and better training for our boys in the field.
If you think it's better for the Philippines to BORROW some more...then we ALL suggest that you don't think. Obviously, you don't use your brain much.Originally Posted by mac_bolan00
Para sa military kamo? o para sa bulsa na naman ng comptroller?
Utang ulit????? Wala na talagang bobo pa sa iyo. Kung meron man, ikaw pa rin yun.
^^^ napakabrutal mo naman 'bro. hala ka! baka iiyak 'yan. napakasensitib pa naman 'yan.
on another note: more than one third ng budget ng GMA admin para lang sa debt servicing. Pambayad lang ng interest! Nakasunod ang budget para sa military. Ang budget para sa social services -Barya na lang po!.
weeellll. i'll allow that the NPA method o revenue collection is much more efficient ---at gunpoint.
ummm, jored? only one PEXer has sided with you and it had to be 7-11 cashier in lower manhattan. talk about worlds apart.
Nasa thrillion na di ba?