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Date: 09/27/2014 11:51 clock
When FTA TTIP between the EU and the USA, the new EU Commission controls seem to change course to. The designated Trade Commissioner Malmström pledged to push for changes to the controversial investor protection.
When controversial free trade agreement between the EU and the USA TTIP the new European Commission is aiming apparently to change course. The designated trade commissioner Cecilia Malmström secured to members of the European Parliament in a closed hearing to reject safeguards to protect investors in the negotiations.
This involves Malmström mainly to the anchoring of arbitral tribunals. This part of the FTA TTIP is to allow corporations not recover in partnership countries in court agreed in the investment protection agreement, but independent arbitration. “Investor-State Dispute Settlement” is the controversial measure officially, in short. ISDS for the English term “investor-to-State Dispute Settlement”
crux of the critics
ISDS is one of the main points of criticism of TTIP. Opponents warn, companies could bring to the base of ISDS clauses the EU or individual countries to international arbitration, without having to go to court. . Moreover, such trade tribunals are usually not staffed with full-time judges, but with lawyers
The Chairman of the Trade Committee in the European Parliament, Bernd Lange, welcomed the announced change of course, “Malmström is a step in . the right direction We Social Democrats since the beginning of negotiations on TTIP urged that an agreement with safeguards for corporations does not come for us to question our message is getting obviously “
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“TTIP and CETA renegotiate”
The Green MEP Ska Keller holds the announced change of position is right. “I am pleased that Malmström refrains from investor lawsuit option. Now have the words to deeds and TTIP and CETA to be renegotiated.”
Although also rejects Germany’s Economics Minister Sigmar Gabriel (SPD) investment protection rules from. Im just completely negotiated free trade agreements with Canada CETA however ISDS is an integral part. Because the text of the treaty is not yet initialed, it is not yet binding. It is said that Gabriel did this route is kept open to eliminate at least the financial sector from the ISDS scheme of CETA in renegotiations.
The planned TTIP Agreement with the economic giants USA for many Critics see red. They fear the lowering of consumer and environmental protection standards in Europe. The former Commission President José Manuel Barroso had always denied these allegations.
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