The UK media this weekend has reported the death of the Trans-Atlantic Trade and Investment Partnership (TTIP), the EU-US so-called trade deal which – as Buzzfeed reported this week – would legalise corporate malfeasance and profiteering by including a discredited Investor State Dispute Settlement (ISDS) mechanism. But, as with Mark Twain, rumours of TTIP’s death are exaggerated. And the reason for its death being faked is to smuggle a similarly bad so-called trade deal with Canada through.
The announcement of the ‘death’ of TTIP was made by Sigmar Gabriel, Angela Merkel’s deputy in the German government, and leader of the social democratic SPD which is in coalition with Merkel’s Christian democrats. Gabriel, who is economic affairs minister as well as vice-chancellor, said that:
“In my opinion, the negotiations with the United States have de facto failed, even though nobody is really admitting it.”
But why would such an erstwhile supporter of the sort of free trade deals which have given globalisation such a bad name be willing to admit defeat so publicly? The answer is that he is trying to smuggle through the much more advanced Canada-EU deal known as the Comprehensive Economic and Trade Agreement (CETA), without anyone noticing.
Read the full article on Touchstone here: http://touchstoneblog.org.uk/2016/08/ceta-why-ttips-death-is-being-exaggerated/
- Written by Owen Tudor