Transnational corporations may soon be given the right to bring law suits against European governments in secret tribunals if they believe that laws and regulations will interfere with their corporate interests or reduce their profits.
Unlike traditional free trade agreements, the Transatlantic Trade and Investment Partnership (TTIP) currently being negotiated in secret between the EU and the US is not designed to remove border tariffs, those went long ago. Instead it is aimed at removing regulatory ‘barriers’ within nation states. This will be done through the use of so called ‘Investor State Dispute Settlements’ (ISDS) and have already been used to subvert democracy and the rule of law in other free trade zones. The ‘barriers’ that corporations have in mind to dismantle include food safety laws, environmental protections and workers’ rights. TTIP also has the potential to open up our public services, in particular health and education, to foreign companies in an unprecedented new wave of privatisation. In other words governance by national parliaments and the democratic process will be permitted, but only to the point where the CEOs and boards of large corporations say that it’s ok.
To find out more about the costs that TTIP could have on you and your families lives, click on the latest news stories below.
13 December 2016
by Michael Robinson, NIPSA Global Solidarity Committee
22 November 2016
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07 April 2016
by Ian Boersma, NIPSA Global Solidarity Committee
29 January 2016