Estrada extends olive branch to opposition

BeleagueredPresident Joseph Estrada yesterday extended an olive branch to the opposition, announcing "sweeping reforms" and offering his chief critic, Vice-President Gloria Macapagal Arroyo, a top economic job to shore up investor confidence amid a bribery scandal.
But Arroyo rejected the offer.
Speaking on state television, Estrada said he fully agreed with Arroyo's assessment that the peso's weakness was due to perceptions of "political instability" in his 28-month administration.
He offered to resign as chairman of the Economic Coordinating Council (ECC), an economic superbody he earlier created to craft economic policy, and invited Arroyo to take up the post.
"Since our economy is now facing its most serious challenge, I will reorganise, empower, and strengthen the ECC. I take this opportunity to extend to Vice President Gloria Macapagal Arroyo the hand of reconciliation to work together again, in the interest of the nation, and serve as chairperson of the ECC."
Promising "sweeping reforms" Estrada said he would step down as ECC chairman, adding if Arroyo accepts his offer, Executive Secretary Ronaldo Zamora and other ECC members not directly involved in economic policies and programmes would give up their posts.
However, about Estrada's offer, Arroyo told a television station: "He has repeatedly made promises which have not been fulfilled, it will not really help."
Arroyo said she would continue the campaign for Estrada's removal over allegations that he received bribes from gambling syndicates running an illegal numbers game. Estrada has denied the charges and refused to resign.
Estrada admitted Arroyo's earlier statement that the people lacked confidence on him the reason why the peso further plunged despite interest rates that were recently imposed by Central Bank Governor Rafael Buenaventura.
At the same time, Estrada said he would not resign as president because of allegations by Ilcos Sur Governor Luis Singson that he had received $8.7 million payoffs from gambling lords, and forced the extraction of $2.7 million tobacco tax from the development fund of Singson's province. "I will answer all the charges point by point at the proper time. Let the impeachment process takes its course," Estrada said.
Estrada also invited former Presidents Corazon Aquino and Fidel Ramos to attend the convening of the National Security Council (NSC) on November 3, saying, "I seek the counsel of our political leaders past and present to forge a consensus on how to best resolve our crisis."
Estrada also vowed to get advise from the influential Roman Catholic Church and various business communities, all of which have expressed outrage over his alleged gambling payoff and kickback scandal.
Reaching out to the powerful and the powerless, following the opposition's call for civil disturbance if he does not resign, Estrada said: "Tonight, I extend my hand to all of you to seek your cooperation in halting further damage to the economy and in finding a common ground. Our country must be placed above personal or political interests. Together we can move our country ahead and build on strong economic fundamental and national unity."
"We cannot allow anarchy or violence in our cities and streets. Law and order must prevail to protect our citizens. And the self-inflicted damage to our economy, and our country must end. It is time to find a common ground and unite, that time is now," Estrada said.