What are the likely consequences of the TTIP trade deal?
TAFTA/TTIP: What Are The Benefits? What Are The Costs?...The Facts they never tell you.
The latest from Glyn Moody about the Cost to Benefit Ratio in the TTIP – Trans-Atlantic Trade and Investment Partnership. Benefits amount to less than 0.05% extra GDP added per year and the costs are a cause for concern.
As we draw near to the conclusion of TAFTA/TTIP’s first year of negotiations, the detailed differences are starting to emerge between the US and EU. But one thing they both take for granted is that it’s a good idea. “Good” in this context is essentially about money: the argument is that concluding a trade deal between the US and EU will boost both their economies, increase companies’ profits, create employment and generally make people better off. Of course, since all of those are in the future, the only way to justify those kind of claims is to model the likely effects of TTIP on the various economies — of the US, EU and rest of the world. ~Glyn Moody
What are the likely consequences of an EU-US trade deal for our environment?
A debate about the impacts of the Investor to States Disputes Settlement on the environment, between representatives from the European Commission and Civil Society Organizations from Europe, US and Canada was held in Brussels during the last negotiations round of the Transatlantic Trade and Investment Partnership.
– Rupert Schlegelmilch, European Commission, Directorate General for Trade
– Višnar Malinovská, European Commission, Directorate General for Environment
– Ilana Solomon, Sierra Club
– Stuart Trew, Council of Canadians
– Pia Eberhardt, Corporate Europe Observatory
From the video:
Why is the ISDS in TTIP/TPP/CETA wrong and undemocratic? Watch at the 41min mark of the video.
Pia Eberhardt highlights two flaws. Equitable access to Justice and Judicial Independence do not exist in ISDS.
ISDS is unfair. States can only defend. Corporations can use ISDS, but Nation States Cannot. Communities/Stake holders cannot use ISDS against Corporations that break the law or detrimentally affect their society.
These are a few examples of Investor-State Dispute Settlement case happening.
Canadian Company with a subsidiary in Delaware Lone Pine suing Canada.
Swedish Energy Group Vattenfall against Germany.
Canadian Infinito Gold against Costa Rica. (A ban on gold mining in Costa Rica and Infinito Gold does not like that law).
After abolition of Apartheid, Italian/Luxembourg investors took South Africa to court due to Black empowerment legislation brought in by the government during the 1990’s.
In theory, Union Carbide/Dow Chemical could sue the Indian Government, as the Bhopal Disaster affected their profits.