Press statement of Sen. Loren Legarda

On RP blacklisting by G20

Finance and Bangko Sentral ng Pilipinas (BSP) officials must immediately work with members of Congress so that remedial pieces of legislation may be updated and put in line with internationally accepted banking and tax practices. Government must move swiftly to cause our country's removal from this so-called G-20 blacklist of alleged tax havens before this blacklisting causes deleterious effects on our economy.

One wonders though why the Philippines, despite expressing willingness to comply with new international standards on the exchange of tax and banking information, had been blacklisted when other countries, like Switzerland, had not been included in the list on the strength of a similar expression to comply. Is it because ours is a developing country perceived to be a pushover?

I find it unfair because the concept of bank secrecy was not a creation of the Philippines and, until money laundering became prevalent, was an acknowledged necessity to protect the money of honest banking clients. Likewise, it's not like the financial, tax and banking systems of well-off countries are perfect and foolproof. For if they are, how come the many scandals rocking their own systems?

On Abus freeing 1 of 3 Red Cross captives

The freeing of Mary Jean Lacaba showed that negotiation works, and that it too can result to the two remaining Red Cross workers held captives by the Abu Sayaff to be set free. While government has to be firm in dealing with kidnappers, it must not close the door on a negotiated release of the other captives. We must avoid further bloodshed in working for the release of the two foreigners still held by the group.

At the same time, law and order in Mindanao must be improved to avert more kidnappings in the future. The seeds of discontent in the region -- poverty, social inequality and utter neglect of the south by the national government -- must be addressed not with palliative measures but with sustainable undertakings that would put on the table and uplift the subhuman living conditions of our people in Mindanao.

On US Balikatan soldiers and prostitution

We must get to the bottom of the report that US soldiers participating in the US-RP Balikatan exercises in Legazpi City are being provided the services of prostitutes. Prostitution per se is an abomination, more so when it is seen as being made part of the perks of visiting foreign soldiers.

The controversy over the rape of "Nicole" by an American serviceman has yet to die down, yet now comes another cause of concern over the RP-US military exercises under the Visiting Forces Agreement (VFA). Surely, the VFA must be reviewed and scrapped, if need be, to protect our sovereignty and shield our people from exploitation.