10/06/2014

the real hidden antidemocratic timebomb in the US-EU freetrade pact

"The Obama administration’s precarious justifications for the investor-state dispute settlement (ISDS) regime may determine the fate of the transatlantic free trade agreement, said Public Citizen as it released a new report examining those defenses and revealing data on the U.S. and European Union (EU) firms that would be newly empowered to attack domestic policies in extrajudicial tribunals if the pact includes ISDS. Recently, the incoming European Commission president, several large voting blocs in the European Parliament and the German government have voiced opposition to ISDS.
http://citizen.typepad.com/eyesontrade/2014/10/new-report...

this means in fact that a firm can start a trial if the EU or our country enacts new legislation (for example on labor relations, dataprivacy or environment) that the firm thinks is negative for its business and hasn't been foreseen in the framework of the freetrade agreement

so we elect leaders, they go before parliament and get approval and than the US business sue the state for millions because they will find that it is negative for their business

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