MANILA – The Makati Business Club said Friday it would monitor whether the Supreme Court’s decision to oust Chief Justice Maria Lourdes Sereno would have long-term effects on the economy.
“This is bad for the economy, bad for the judiciary, bad for the country. This is like EDSA 2 which spawned a decade of political instability and loss of national unity to tackle economic problems,” economist Calixto Chikiamco told ANC.
The MBC earlier said it preferred that questions over Sereno’s qualifications be settled in an impeachment trial, not through a “quo warranto” petition that the high tribunal granted on Friday.
“We just have to take a look at how things unfold over the next few days,” MBC co-vice chairman Roberto de Ocampo told ANC.
“Investment sentiment will be affected if the related disruptions that may follow are extended and prolonged and that remains to be seen,” said De Ocampo, a former finance secretary.
“It’s not yet clear to me if this issue will be disruptive [to business and investment sentiment] in the next few days. Disruptive in the sense that it could lead to some concerns from investors about stability going forward and things of that nature,” he said. (ABS-CBN News)
