The LTTE Proposals for an Interim Self-Governing Authority and Future of the Peace Process in Sri Lanka

The political brinkmanship of the Liberation Tigers of the Tamil Eelam has been illustrated vividly by the way in which it brought forward its proposals for an Interim Self-Governing Authority by exploiting the vulnerabilities of the United National Front Government. In the proposals the LTTE articulated its political intentions in concrete constitutional terms for the first time. The Proposals rationalize the armed struggle and a contractual agreement outside the Constitution. The plenary powers of the ISGA exceed the federal formula; effectively exclude the institutions of the state of Sri Lanka from the North-East; and clear the route for a separate state. This situation demands a redirection of the peace process which requires a clear political vision and a proper strategy with alternative proposals on the part of the government. In the face of present impasse of the peace process the challenges before the new Freedom Alliance government are formidable.

Asset composition of the Philippines' universal and commercial banks : monetary policy or self-discipline?

The central bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) has improved its monetary policy measures since the 2000s. After rationalizing the country's banking sector since late-1990s, its monetary policy and the uniiversal/commercial banks' (UCBs) behavior in allocating their assets has changed since mid-2000s. Though further and more detailed studies are nesessary, based on the results of simple correlation analyses conducted in this paper suggest a possible mixture of the country's monetary policy and their own decision-making in asset allocations, instead of a "follow-through" attitude.