Week Long Holiday in December

News about the week long holiday in December for banks in the Philippines have been circulating! This has nothing to do with the current financial crisis, but was decreed by Malacanang, which combined the Christmas and New Year merry-making with the 2008 version of Gloria Arroyo's holiday economics.

Together with Christmas and New Year's days and Rizal Day on December 30, plus the Saturday and Sunday in between, banks will be shut down for 8 straight days from December 25 to January 1! This eight day shutdown is creating a financial planning havoc among corporate treasurers and paymasters, who are in a bind as to what date the last paycheck for the year should be released.

I am sure there will be alot of merry making and parties going on in Philippines at the end of year! I cant wait!