Tuesday, June 13, 2006

Taiwan's Parliament to Debate Motion to Oust Chen (Update1)

Bloomberg.com

June 12 (Bloomberg) -- Taiwan's Parliament will hold a special session starting tomorrow to debate a motion which, if passed, will lead to a public vote on whether to oust President Chen Shui-bian.
Lawmakers voted 113 to 97 to convene an extraordinary session, Speaker Wang Jin-pyng said in comments broadcast live on Formosa Television today. The Legislature adjourned May 30 for its summer recess. The benchmark Taiex stock index and the Taiwan dollar fell after the announcement.
Chen, whose popularity has fallen to a record low, faces pressure from the opposition to resign over his family members' involvement in a share trading scandal. Recent political developments have distracted the government from pressing ahead with necessary policy, global ratings company Standard & Poor's said in a report June 9.
``I hope the special session can focus on people's livelihoods, and stop political struggle,'' Premier Su Tseng- chang said in comments broadcast by Formosa Television.
Chen on May 31 ceded power over Cabinet appointments to Su. James Soong, chairman of People First Party, the second largest opposition party, said last week ceding some powers was not enough and Chen should quit.

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