THE independent think-tank IBON Foundation yesterday warned yhat the widespread outrage over the Charter change initiative may lead to political and economic upheaval.

It said the move of President Arroyo’s Congress allies to railroad the passage of House Resolution 1109 has set the stage for heightened political instability because it confirms Arroyo’s unrelenting effort and desperation to remain in power.

IBON said the tipping point leading to rapidly accelerating outrage and protest will likely be reached when it becomes clear that the 2010 elections and desired removal of Arroyo from the presidency will not be taking place.

IBON’s latest survey shows that majority of Filipinos are not in favor of Cha-Cha and believe that the real motive is for the Arroyo clique to extend its term in power.

It said while the ruling clique apparently prefers the Cha-Cha option, the people should also be prepared for other means that it might execute to remain in power.

The think-tank said it is clear that the present Cha-Cha initiative is no different from the past failed attempts to change the Constitution as it serves the political self-interest of Arroyo and the economic self-interest of foreign capital, and will clearly be rejected by the people.

The think-tank also said the effort to convene a Constituent Assembly creates the conditions for constitutional amendments that will open up and stunt the domestic economy.

It said the deepening economic crisis and ensuing government neglect are significant factors creating conditions for an upheaval.

It said the economy’s long-standing underdevelopment and descent into recession shows how the domestic economy should be actively nurtured and protected.

IBON said the financial crisis in the United States, European Union and Japan is forcing capitalist countries to become even more aggressive in seeking profitable opportunities abroad at the expense of the Third World.