Do you believe in the free market?

The new trade deal between the EU and USA will be another monumenal win for MNC.

Leaked draft versions of the EU negotiating mandate for a far-reaching free trade agreement with the US – to be approved at next week’s trade minister meeting (14 June) – reveal the European Commission’s plans to enshrine more powers for corporations in the deal. The proposal follows a persistent campaign by industry lobby groups and law firms to empower large companies to challenge regulations both at home and abroad if they affect their profits. As a result, EU member states could soon find domestic laws to protect the public interest challenged in secretive, offshore tribunals where national laws have no weight and politicians no powers to intervene.

The Commission’s proposal for investor-state dispute settlement under the Transatlantic Trade and Investment Partnership (TTIP)1 would enable US companies investing in Europe to skirt European courts and directly challenge EU governments at international tribunals, whenever they find that laws in the area of public health, environmental or social protection interfere with their profits. EU companies investing abroad would have the same privilege in the US.

http://corporateeurope.org/publications/transatlantic-corporate-bill-rights
 
Commadus said:
The new trade deal between the EU and USA will be another monumenal win for MNC.

Leaked draft versions of the EU negotiating mandate for a far-reaching free trade agreement with the US – to be approved at next week’s trade minister meeting (14 June) – reveal the European Commission’s plans to enshrine more powers for corporations in the deal. The proposal follows a persistent campaign by industry lobby groups and law firms to empower large companies to challenge regulations both at home and abroad if they affect their profits. As a result, EU member states could soon find domestic laws to protect the public interest challenged in secretive, offshore tribunals where national laws have no weight and politicians no powers to intervene.

The Commission’s proposal for investor-state dispute settlement under the Transatlantic Trade and Investment Partnership (TTIP)1 would enable US companies investing in Europe to skirt European courts and directly challenge EU governments at international tribunals, whenever they find that laws in the area of public health, environmental or social protection interfere with their profits. EU companies investing abroad would have the same privilege in the US.

http://corporateeurope.org/publications/transatlantic-corporate-bill-rights
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What does 'challenge regulations' mean? What will the international tribunals take into consideration? I would imagine the domestic laws for a start.
 
711 said:
What does 'challenge regulations' mean? What will the international tribunals take into consideration? I would imagine the domestic laws for a start.
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Trade deals have always been about normalising regulations where its a race to the bottom. These tribunals will be opaque.
 
Commadus said:
Trade deals have always been about normalising regulations where its a race to the bottom. These tribunals will be opaque.
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The exact details have not been agreed but they will definetly not be open to public scrutiny and oversight going on th current TPP negotiations.

It's more a deal about flows of capital - hot money.
 
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