It's a trial for the nation

The impact of the Estrada trial on the Philippines' economy has been severe, writes AMIT BARUAH. Business confidence is low and the peso has fallen sharply.

IT IS not often that the trial of a President is beamed into the homes of ordinary citizens. In the case of the Philippines, every development in the impeachment trial of the President, Mr. Joseph Estrada, is being closely watched and discussed by millions.

As the Senate sits as a trial court to try a clutch of charges against the President, it is clear that till a verdict becomes available, politics in the country will continue to be dominated by news of the trial. Almost every day, there is something new to report, something new to comment about for the Philippines press. So far, as witnesses come and present their case, it is not clear which way the 21-member Senate will vote - for or against the President.

A key piece of evidence on which the prosecution was relying seems to have come a cropper. A cheque reportedly signed by ``Jose Valhalla'' or ``Jose Vellarde'', it had been claimed, was similar to the signature of the President. However, when after days of wrangling, documents from the Equitable PCI Bank were opened, the contents did not hold out much for the prosecution. The specimen signatures for the account bore no resemblance either to that of the President or to the writing on the cheque. After the documents became available for scrutiny, prosecutors alleged that account information appeared to have been tampered with. The entries in the documents, said Mr. Romeo Capulong, one of the prosecutors, ``appear to be recently written'' and contained ``erasures''.

The presiding officer in the Senate trial, the Chief Justice of the Philippines, Mr. Hilario Davide, said it was unfair for prosecutors to make evaluations or pronouncements outside the Senate court that could cast doubts on the integrity of the Senate trial. For their part, defence lawyers have said the bank documents would have no effect on their case. The documents only proved that the account in question did not belong to the President.

Another issue that has rocked the trial is the charge that the Estrada Government is responsible for the tapping of telephones of Senator-judges, leaving out a select few whose pro-President posture was not in doubt.

Even as the drama continues inside the Senate court, the Opposition is not letting up in its protests and demands that ``Erap'' as Mr. Estrada is known, must ``go''.

At a recent public function, the former President, Ms. Corazon Aquino, dared Mr. Estrada to take the witness stand in the case. ``If the President has nothing to hide, then he has nothing to fear.

If he has nothing to fear, then why should he think twice about taking the stand in his own behalf and giving the people his own version of events?''

Mr. Estrada's rejoinder was quick. The President stated that Ms. Aquino had no business daring him to take the witness stand since she was not his lawyer. ``How many times do I have to tell you that I am ready to face (trial) anytime,'' the President was quoted asking reporters. ``If it were up to me, I am ready to appear anytime.'' Pressed for a comment on the Senate proceedings, Mr. Estrada said he had decided to keep silent about the issues in the trial. ``Let's just wait for the results, especially the verdict in the case.''

While the Estrada trial runs its course (the Senator judges will now take a Christmas break), the impact on the country has been severe. Business confidence is low; top businessmen have taken the lead in calling for the President's resignation.

The peso value to the dollar has fallen sharply since October; foreign interest in the Philippines economy appears restricted to monitoring the ``news'' from the trial.

The Catholic Church, a leading institution in the country, has openly called for the President to resign - something it has been demanding much in advance of the Senate trial getting underway.

Importantly, the protests in the country have not gotten out of hand. The powerful military, which staged several coup attempts during the presidency of Ms. Corazon Aquino, back in the late 1980s, has been sitting and watching.

There have been statements and counter-statements for and against the President, but these have mercifully been confined to newspapers and television channels.

According to available information, the Estrada trial is likely to continue through January and may even go into February.

Given such a prospect, Filipinos are expected to be glued to their televisions or radio sets - watching and hearing the unfolding drama.

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