Allen meinen Leserinnen und Lesern:

Ein Frohes und Gesegnetes Weihnachtsfest und ein Frohes und Glueckliches Neues Jahr 2014!

My First German-Bisaya-English Radio Show...

Es war schon irgendwie aufregend. Und, es hat viel Spass gemacht. Ich war Gast bei ABS CBN in der Radiosendung von Ian Garcia, Freund, Mindanao Times Kolumnist, Chefredakteur des M-Magazins (Mindanao Lifestyle and Living) und TV-Moderator...

Where is Sabine? Wo ist Sabine?

What Makes Me a Global Mind? www.internations.org interviewed me...

In our InterNations Recommended Blog section we let you take the spotlight! Expat life in general is, of course, a perfect breeding ground for great, user-generated reads, and life in the Philippines makes no exception. Take your time and browse the great blogs showcased in this article!

Please tell us a little bit about yourself. Who you are, where you come from, when you moved to the Philippines, etc.

I am from Northrine Westfalia in Germany and moved to the Philippines for good in 1999 after visiting the country since 1982 regularly. Right now I am teaching German language at a state university in Davao City/Mindanao; I am a journalist for radio/print/TV and a certified translator, blogger and businessman.

When and why did you decide to start blogging about your experiences?

I started blogging some 10 years ago, because that's the easiest way to tell the whole world what you are thinking about.

Do you have any favorite blog entries of yours?

Unfortunately, I don't have any favourite entries of my blog yet.

Tell us about the ways your new life in the Philippines differs from that back home. Did you have trouble getting used to the new circumstances? Did you experience culture shock?

I got no problems in my new expat life.

Do you think you were fully prepared for what awaited you in the Philippines? If you could, would you change some decisions/preparations you made?

Yes, I was fully prepared and I would never regret that I moved to the Philippines. Many expats just came here - very blue-eyed and then complaining. My advice: plan first before you move here.

Every expat knows that expat life comes with some hilarious anecdotes and funny experiences. Care to share one with us?

Sorry, nothing available right now.

Which three tips would you like to give future expats before they embark on their new life in the Philippines?

• Check first your financial background. If you are in financial troubles, nobody will help.
• Second: Think before moving here, what you gonna do. Being bored is killing.
• Third: Try to stay in the Philippines for a year or so, before you break down all bridges to your home country.

How is the expat community in the Philippines? Did you have a hard time finding like-minded people or fellow expats?

There are a lot of expat communities in the Philippines. As a journalist I didn't have problems to find same-minded expats.

How would you summarize your expat life in the Philippines in a single, catchy sentence?

There is no paradise on earth, but it's really fun in the Philippines.

What makes me a Global Mind? There are many answers. I was always interested in foreign countries and their people and culture. And, my spouse is from the Philippines. Of course, http://www.internatons.org with an awesome large network around the globe helped me a lot connecting more global minds - not only in the Philippines.

Philippine Banks Have a Hard Time Raising Capital

By Christopher Langner

The board of Metrobank, the largest bank in the Philippines, tweaked a resolution authorising the issuance of Basel III compliant capital notes last week, but foot-dragging by the banking regulator means its efforts may have been in vain.A deal by Metrobank is still a long way from happening. The transaction is stalled partly because the Bangko Sentral ng Pilipinas, which doubles as central bank and regulator, has yet to approve the sale.

Bangko Sentral also has placed onerous regulations around Basel III-compliant subordinated debt issuance that has stymied investor participation in the Philippine bank capital market.

It is not just Metrobank. Other private banks are seeking the green light to increase their capital via subordinated bonds that meet the new bank capital guidelines, which call for investors to share losses with issuing banks if they are declared non-viable. Rizal Commercial Banking Corporation has been waiting for almost a year for the central bank's go-ahead.

Metrobank's board made its move just three weeks after the Development Bank of the Philippines printed a Basel III deal. It was the first offering from the country that meets the new standards, which means the bonds could be written down to zero. From January 1, any bank-issued subordinated bonds that are not structured this way will not count towards capital.

But DBP is the only bank so far to have issued Basel III subordinated paper under the new system. Being fully owned by the government, it avoided the delays private lenders face getting approval for their Basel III-compliant offerings.

Coordinated by Standard Chartered and co-arranged by BPI, PNB and Deutsche Bank, the deal attracted strong interest from local investors.

Still, DBP had to find a solution to what bankers and lawyers are calling overzealous regulation by the Bangko Sentral ng Pilipinas.

In February, the regulator issued Circular 786, which requires any investor intending to buy subordinated bonds with loss-absorption clauses to sign a big boy letter - an agreement that seeks to limit liability by restricting the right to sue over non-disclosure of material information.

Additionally, investors may be required to undergo suitability tests.

Nestor Espenilla, Jr., deputy governor of Bangko Sentral ng Pilipinas, defended the regulator's stance, by saying it is necessary to protect investors.

"As a consumer protection matter, BSP finds it appropriate to have in place Circular 786 to complement our Basel 3 implementation framework both to ensure that retail investors in the Philippines are adequately informed of their possible risk exposures, and to minimize potential mis-selling of comparatively high yield hybrid, innovative instruments in a generally low interest rate environment," he said by email.

"As a regulator, we believe in striking an appropriate balance between the interests of banks and their customers in the context of market-based rules," he added.

OVERKILL

"I cannot think of any other country in the world that has such regulation in place," said a lawyer in Hong Kong who specializes in debt capital markets.

The circular's investor protection rules, however, are only applicable to Basel III transactions distributed onshore, Espenilla said.

"Those distributed offshore are covered by applicable rules in the offshore jurisdiction - our banks now understand this," he explained.

But lawyers said the wording on the regulation itself leaves it open to discussion. The February circular suggests even buyers in the secondary market would be required to sign risk disclosure statements.

"I am pretty sure it applies to secondary as well," said the Hong Kong lawyer. Indeed, in a clarification issued in March, the central bank stated that the requirements in the circular "are applicable to all prospective investors in Additional Tier 1 and Tier 2 capital instruments." The regulator bolded the word 'all' to ensure there was no doubt over its meaning.

It is no wonder that Metrobank amended its original plans. The bank had mandated JP Morgan and UBS and even met some investors earlier in the year with eyes set on issuing US$500m in Tier 2 bonds in the offshore market. Now it is considering issuing at home.

As DBP proved, depending on how well a bank is known, it may be easier to get investors in Manila to jump through all the hoops required by the central bank.

Even at home, though, Metrobank still needs regulatory approval to go ahead. And that has been a very slow process.

Ultimately, one banker in the Philippines said, the reason for the drawn-out consent and excessive regulation is to safeguard the Central Bank itself.

"They have a history of being sued by disgruntled investors claiming they should have not allowed certain securities to be sold. Given these bonds can be fully written-down, the [central bank] wants to be absolutely sure it is not liable before letting anyone in the Philippines invest in the bonds," said the banker.

DBP did not face that issue because it is state owned. So, the banker said, the government will not let it fail, especially if it can be sued for doing so. "This really puts private banks at a disadvantage to government banks," said the treasurer.

Andres Bonifacio of The Philippines

Photo of Philippines nationalist hero Andres Bonifacio, prior to his 1897 execution.

Andres Bonifacio simmered with rage and humiliation. The movement that he had created to oppose Spanish colonial rule in the Philippines had just voted (likely in a rigged election) to make his rival Emilio Aguinaldo president in his stead. Bonifacio was given the lowly consolation prize of an appointment as Secretary of the Interior in the revolutionary government.

When this appointment was announced, however, delegate Daniel Tirona objected on the grounds that Bonifacio did not have a law degree (or any university diploma, for that matter). Incensed, the fiery rebel leader demanded an apology from Tirona. Instead, Daniel Tirona turned to leave the hall; Bonifacio pulled out a gun and tried to shoot him down, but General Artemio Ricarte y Garcia tackled the former president and saved Tirona's life.

Who was this scrappy and hot-headed rebel leader, Andres Bonifacio? Why is his story still remembered today in the Republic of the Philippines?

Bonifacio's Birth and Early Life:

 

Andres Bonifacio was born on November 30, 1863 in Tondo, Manila. His father Santiago was a tailor, a local politician and a boatman who operated a river-ferry; his mother, Catalina de Castro, was employed in a cigarette-rolling factory. The couple worked extremely hard to support Andres and his five younger siblings, but in 1881 Catalina caught tuberculosis ("consumption") and died. The following year, Santiago also became ill and passed away.

At the age of 19, Andres Bonifacio was forced to give up plans for higher education and begin working full-time to support his orphaned younger siblings. He worked for the British trading company J.M. Fleming & Co. as a broker or corredor for local raw materials such as tar and rattan. He later moved to the German firm Fressell & Co., where he worked as a bodeguero or grocer.

Family Life:

 

Andres Bonifacio's tragic family history during his youth seems to have followed him in to his adulthood. He married twice, but had no surviving children at the time of his death.

His first wife, Monica, came from the Palomar neighborhood of Bacoor. She died young of leprosy (Hansen's disease).

Bonifacio's second wife, Gregoria de Jesus, came from the Calookan area of metro Manila. They married when he was 29 and she was just 18; their only child, a son, died as an infant.

Establishment of Katipunan:

 

In 1892, Bonifacio joined Jose Rizal's new organization La Liga Filipina, which called for reform of the Spanish colonial regime in the Philippines. The group met only once, however, since Spanish officials arrested Rizal immediately after the first meeting and deported him to the southern island of Mindanao.

After Rizal's arrest and deportation, Andres Bonifacio and others revived La Liga to continue pressure on the Spanish government to free the Philippines. Along with his friends Ladislao Diwa and Teodoro Plata, however, he also founded a group called Katipunan.

Katipunan, or Kataastaasang Kagalannalangang Katipunan ng mga Anak ng Bayan to give its full name (literally "Highest and Most Respected Society of the Children of the Country"), was dedicated to armed resistance against the colonial government. Made up mostly of people from the middle and lower classes, the Katipunan organization soon established regional branches in a number of provinces across the Philippines. (It also went by the rather unfortunate acronym KKK.)

In 1895, Andres Bonifacio became the top leader or Presidente Supremo of the Katipunan. Along with his friends Emilio Jacinto and Pio Valenzuela, Bonifacio also put out a newspaper called the Kalayaan, or "Freedom." Over the course of 1896, under Bonifacio's leadership, Katipunan grew from about 300 members at the beginning of the year to more than 30,000 in July. With a militant mood sweeping the nation, and a multi-island network in place, Bonifacio's Katipunan was prepared to start fighting for freedom from Spain.

Philippines Uprising Begins:

 

Over the summer of 1896, the Spanish colonial government began to realize that the Philippines was on the verge of revolt. On August 19, the authorities tried to preempt the uprising by arresting hundreds of people and jailing them under charges of treason - some of those swept up were genuinely involved in the movement, but many were not.

Among those arrested was Jose Rizal, who was on a ship in Manila Bay waiting to ship out for service as a military doctor in Cuba (this was part of his plea bargain with the Spanish government, in exchange for his release from prison in Mindanao). Bonifacio and two friends dressed up like sailors and made their way onto the ship and tried to convince Rizal to escape with them, but he refused; he was later put on trial in a Spanish kangaroo court and executed.

Bonifacio kicked off the revolt by leading thousands of his followers to tear up their community tax certificates or cedulas. This signaled their refusal to pay any more taxes to the Spanish colonial regime. Bonifacio named himself President and commander-in-chief of the Philippines revolutionary government, declaring the nation's independence from Spain on August 23. He issued a manifesto, dated August 28, 1896, calling for "all towns to rise simultaneously and attack Manila," and sent generals to lead the rebel forces in this offensive.

Attack on San Juan del Monte:

 

Andres Bonifacio himself led an attack on the town of San Juan del Monte, intent on capturing Manila's metro water station and the powder magazine from the Spanish garrison. Although they were vastly outnumbered, the Spanish troops inside managed to hold off Bonifacio's forces until reinforcements arrived.

Bonifacio was forced to withdraw to Marikina, Montalban, and San Mateo; his group suffered heavy casualties. Elsewhere, other Katipunan groups attacked Spanish troops all around Manila. By early September, the revolution was spreading across the country.

Fighting Intensifies:

 

As Spain pulled all its resources back to defend the capital at Manila, rebel groups in other areas began to sweep up the token Spanish resistance left behind. The group in Cavite (a peninsula south of the capital, jutting into Manila Bay), had the greatest success in driving the Spanish out. Cavite's rebels were led by an upper-class politician called Emilio Aguinaldo. By October of 1896, Aguinaldo's forces held most of the peninsula.

Bonifacio led a separate faction from Morong, about 35 miles (56 kilometers) to the east of Manila. A third group under Mariano Llanera was based in Bulacan, north of the capital. Bonifacio appointed generals to establish bases in the mountains all over Luzon island.

Despite his earlier military reverses, Bonifacio personally led an attack on Marikina, Montalban, and San Mateo. Although he initially succeeded in driving the Spanish out of those towns, they soon recaptured the cities, nearly killing Bonifacio when a bullet went through his collar.

Rivalry with Aguinaldo:

 

Aguinaldo's faction in Cavite was in competition with a second rebel group headed by an uncle of Gregoria de Jesus, Bonifacio's wife. As a more successful military leader and a member of a much wealthier, more influential family, Emilio Aguinaldo felt justified in formed his own rebel government in opposition to Bonifacio's. On March 22, 1897, Aguinaldo rigged an election at the rebels' Tejeros Convention to show that he was the proper president of the revolutionary government.

To Bonifacio's shame, he not only lost the presidency to Aguinaldo, but was appointed to the lowly post of Secretary of the Interior. When Daniel Tirona questioned his fitness even for that job, based on Bonifacio's lack of a university education, the humiliated former president pulled a gun and would have killed Tirona if a bystander had not stopped him.

Sham Trial and Execution:

 

After Emilio Aguinaldo "won" the rigged election at Tejeros, Andres Bonifacio refused to recognize the new rebel government. Aguinaldo sent a group to arrest Bonifacio; the opposition leader did not realize that they were there with ill intent, and allowed them into his camp. They shot down his brother Ciriaco, seriously beat his brother Procopio, and some reports say that they also raped his young wife Gregoria.

Aguinaldo had Bonifacio and Procopio tried for treason and sedition. After a one-day sham trial, in which the defense lawyer averred their guilt rather than defending them, both Bonifacios were convicted and sentenced to death.

Aguinaldo commuted the death sentence on May 8, but then reinstated it. On May 10, 1897, both Procopio and Andres Bonifacio likely were shot dead by a firing squad on Nagpatong Mountain. Some accounts say that Andres was too weak to stand, due to untreated battle wounds, and was actually hacked to death in his stretcher instead. Andres was just 34 years old.

Andres Bonifacio's Legacy:

 

As the first self-declared President of the independent Philippines, as well as the first leader of the Philippine Revolution, Andres Bonifacio is a crucial figure in that nation's history. However, his exact legacy is the subject of dispute among Filipino scholars and citizens.

Jose Rizal is the most widely recognized "national hero of the Philippines," although he advocated a more pacifist approach of reforming Spanish colonial rule rather than overthrowing it by force. Aguinaldo is generally cited as the first president of the Philippines, even though Bonifacio took on that title before Aguinaldo did. Some historians feel that Bonifacio has gotten short shrift, and should be set beside Rizal on the national pedestal.

Andres Bonifacio has been honored with a national holiday on his birthday, however, just like Rizal. November 30 is Bonifacio Day in the Philippines.