‘RP business managers to be ready if EU economy collapsed’
10/15/2011“The aborted three-day official visit of Slovakia’s President Ivan Gasparovic yesterday to Manila sent a strong signal to the grim economic situation in Europe that should compel cautious monitoring by the country’s economic managers, as the economic troubles in Europe would eventually have dire financial consequences to governments around the world, including the Philippines,” Sen. Aquilino “Koko” Pimentel III said yesterday.
“This should compel our government’s economic managers to closely monitor the economic developments in the European Union so that whatever impact it may have around the world, the Philippines will not be caught by surprise,” Pimentel said.
“Countries around the world do not live in isolation. What is happening in the European Union will ultimately impact the financial conditions of countries around the world, including the Philippines,” he added.
“For a head of state to abruptly cancel his official visit, only tells the gravity of the economic situation in Europe which should warrant our government economists to give serious attention to the brewing financial troubles in Europe,” Pimentel said..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/nation/20111015nat6.html
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lumilinaw, lumilinaw ang dahilan kung bakit sinakop ang libya at tinatarget ang iba pa. naghihingalo mga ekonomiya ng nato/european na bansa.
"At the same time, the European Union crisis gives a timely reminder to our economic and bank managers to rethink our bank policies on reserves,” the senator from Mindanao added.
"Pimentel made the statement in the wake of the recent crucial vote by the Slovak parliament against a financial rescue plan intended to bail out financially distressed nations in Europe which belong to the European Union."
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