27th
Three admins allegedly extorted from Fraport-Piatco. Worst was the Arroyo team, for which they hired in 2001 a “PR consultant” as $20-million briber, Sen. Ed Angara said then. In Mar. 2007 Malacañang hurriedly gave Fraport-Piatco $62 million (P3 billion) in belated down payment for the expropriation. Reports had it later that only half the amount went to Piatco, while the other half went back to admin hands for the elections in May that year. In Sept. 2008 Malacañang prepared to pay another $400 million through two state banks. But a group associated with ex-Sen. Bobby Tañada exposed the scam to reimburse Fraport $136 million (P6.8 billion) more than it had sunk into NAIA-3.
Merkel must have heard of the shenanigans. “As you know, Fraport suffered substantial losses as a result of the expropriation,” she reminded Arroyo. “Fraport has already been promised compensation several times by the Government of the Philippines, but unfortunately the full amount has not yet been paid. This has cost the German taxpayer Euro 42 million, because in 2008 Fraport had to call on a Federal Government guarantee for that amount.”
