[Blueboard] Newsbriefs 8 July Morning

Simbahang Lingkod ng Bayan slb at admu.edu.ph
Fri Jul 8 11:57:38 PHT 2005

*GMA not stepping down, orders Cabinet to resign **(Philippine Star)*

In her statement, PGMA reiterated that she is not resigning her office. 
She also requested her cabinet secretaries to tender their resignation 
so that she will be able to restructure and strengthen her 
reorganization of her government. 

She also introduced reform proposals to work with civil and political 
sectors who are willing to cooperate with her government. One of those 
proposed is to explore the possibility of having a federal form of 

Sources also said that PGMA was forced to issue her statement after 
receiving reports that some of her secretaries were planning to resign. 
Opposition figures continued to belittle her statement saying that it 
was a desperate move to hold on to power.

*Police rally round President amid talk of restive military* (Inquirer 
News Service) 

Philippine National Police Chief Lomibao renewed his support for PGMA. 
This show of support comes at a time when reports of cracks within the 
police force and the military surfaced.

Sources say that it is important for PGMA to check the ranks of the 
armed services as it is important for the stability of her government.
Charter change 'exit option' for Arroyo, says Ramos* (Inquirer News Service)

FVR called for a quick revision of the Constitution to prepare the way 
for a parliamentary form government and new elections in May 2006. He 
proposed this as "a graceful exit option" for PGMA.

Ramos said it was not advisable for Ms Arroyo to resign because the 
country needed a leader until the elections were held. But he said his 
suggestion of allowing Ms Arroyo to remain in power was only brought 
about by a lack of an alternative.

Cabinet secretaries resign and ask the president to resign (*ANC)**

Ex-cabinet secretaries conducted a press statement and asked for the 
president to resign. They also discussed the need for reforms to benefit 
the poor. They pointed out the need to have a leadership with a moral 
courage that will lead healing and reconciliation. They also reiterated 
their commitment to continue serving their country. Some of those who 
were at the press conference were secretaries Florencio Abad, Education; 
Juan Santos, Trade and Industry; Cesar Purisima, Finance; Emilia 
Boncodin, Budget and Management; Imelda Nicolas, National Anti-Poverty 
Commission; Ging Deles, Peace Adviser; Dinky Soliman, Social Welfare and 
Development; Rene Villa, Agrarian Reform; Alberto Lina, Bureau of 
Customs; Guillermo Parayno, Bureau of Internal Revenue

*Peso dives to P56.44:$1 in early trade* (XFN-Asia)

"THE PESO on Friday immediately nose-dived to 56.44 to a dollar a few 
minutes after the foreign exchange market opened for trading from 
Thursday's close of 56.28 to a dollar.

The rate is just a tad short of its historic low of 56.45 against the US 
dollar registered in September last year. As of 10.20 a.m., volume of 
trades already reached 128 million dollars, with the peso trading from 
56.25 to 56.44 to a dollar. Weighted average was at 56.39."

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