Presidency
Estrada was inaugurated on June 30, 1998 in the historical town of Malolos in Bulacan province in paying tribute to the cradle of the First Philippine Republic. That afternoon the new president delivered his inaugural address at the Quirino Grandstand in Luneta. He assumed office amid the Asian Financial Crisis and with agricultural problems due to poor weather conditions, thereby slowing the economic growth to −0.6% in 1998 from a 5.2% in 1997. The economy recovered by 3.4% in 1999 and 4% in 2000. In 2000 he declared an "all-out-war" against the Moro Islamic Liberation Front and captured its headquarters and other camps. However, allegations of corruption spawned a railroaded impeachment trial in the Senate courtesy of house speaker Manuel Villar, and in 2001 Estrada was ousted from a coup after the trial was aborted.
In his Inaugural Address, Estrada said:
| “ | One hundred years after Kawit, fifty years after independence, twelve years after EDSA, and seven years after the rejection of foreign bases, it is now the turn of the masses to experience liberation. We stand in the shadow of those who fought to make us free--free from foreign domination, free from domestic tyranny, free from superpower dictation, free from economic backwardness. | ” |
Read more about this topic: Joseph Estrada
Famous quotes containing the word presidency:
“I once told Nixon that the Presidency is like being a jackass caught in a hail storm. You’ve got to just stand there and take it.”
—Lyndon Baines Johnson (1908–1973)
“... how often the Presidency has simply meant that a man shall be abused, distrusted, and worked to death while he is filling the great office, and that he should drop into unmerited oblivion when he has left the White House ...”
—M. E. W. Sherwood (1826–1903)
“Some of the offers that have come to me would never have come if I had not been President. That means these people are trying to hire not Calvin Coolidge, but a former President of the United States. I can’t make that kind of use of the office.... I can’t do anything that might take away from the Presidency any of its dignity, or any of the faith people have in it.”
—Calvin Coolidge (1872–1933)