If you have not heard about the Transatlantic Trade and Investment Partnership yet there is a very good reason; We the public are not meant to find out about it.
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| US President Obama seeks completion of negotiations before his time in office is over, EU-US Summit 2014. |
The TTIP and the hypocrisy of the EU Commission
In short, the TTIP is a series of negotiations between the EU and USA in the hope of removing nation-state's sovereign regulatory powers over big business on delicate issues including the environment, banking regulation (because we all know how effective they are left to their own devices), as well as worrying health issues such as food safety law. Negotiations have taken place since Barack Obama was re-elected to the White House in 2012, while ambitions for a 'Transatlantic Free-Trade Area' have been circulated since 2009. The end goal of the TTIP is to remove the shackles of regulation on free trade and open the doors of the EU to the profiteering interests of unimaginably wealthy big business investors either side of the pond.
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| Statistics and picture taken from corporateeurope.org |
ISDS and a sceptical EU public
It seems that politicians, lobbyists and big business are terrified of citizens finding out about the plans. Indeed in 2013 an EU commissioned poll receiving over 150 000 responses found "huge scepticism" among europeans. The roots of this scepticism have grown from the Investor State Dispute Settlement (ISDS) clause, which would effectively grant private corporations the insidious ability to sue governments that intervene (presumably for the good of its country). So under ISDS, a big US corporation whom is prevented from investing in an EU country, can sue that country for the potential loss of earnings. Tax payers money - from a country that dare defy the will of a multi-national corporation - would be spent on judicial defence and any subsequent compensation. If I were a European - and I am - I to would be sceptical of such a clause.
The Trans-Atlantic Business Council produced a report outlining the results of a "public debate" from a half day conference entitled "Report – ISDS – A Fact and Experience Based Review." It suggests ISDS inclusion is vital for the "integrity of the international rule of law," which should apparently be given preference concerning a nations internal affairs, on matters such as the environment, development and protection of its green-belt areas or virgin lands.
There were however a few salient points made, outlined in the report;
Industry’s ask for legal certainty is neither unreasonable nor unfair, and will benefit the overall investment climate in the EU at a time when the need to attract foreign investors is fundamental to revive the sluggish European economy.
I am happy to concede here that it is not unreasonable for companies to seek assurances when investing significant sums of money. However, the method in which you claim these assurances should not impinge on the sovereignty of a state in its decision making, which is the modus operandi of ISDS.
In the reform process, transparency is a major issue ... This is a crucial element in the argument with the critics: If the proceedings of some of the current most controversial cases were available to the public, misconceptions could be better addressed.
This is absolutely correct. The secrecy and two-faced approach that is being presented to the European public will undoubtedly create apprehension and mistrust. But as things stand with no evidence that ISDS is a fair or democratic way of enforcing a bi-lateral trade agreement, the public should deservingly treat TTIP and ISDS with distrust and contempt.
One speaker at the conference, Dr Christian Tietje, shows us why there is such a lack of trust in ISDS, the people proposing it and consequently the TTIP;
Several groups opposing the provisions are not interested in facts but view the debate in the broader dimension of globalisation. It is particularly challenging as only business and bureaucracies support the inclusion of ISDS in the agreement.
This could not be further from the truth and to dismiss criticisms as baseless without challenging those criticisms is intellectual sloppiness. The blatant lack of transparency in negotiations, the undemocratic process of agreement and the misunderstanding of public scepticism may well be the downfall of trade agreements. Further the contemptuous opinion of its backers on the EU public will only further detach TTIP from its opponents. Business and bureaucracies support ISDS because they are the main negotiators and have regular access to the information. The public are privy to few facts, save leaked drafts of documents that only made the secrecy more pervasive.
To suggest ISDS and the TTIP are separate to globalisation is absurd. The two most powerful economic superpowers are corroborating to bring unbridled development and unregulated investment to the western developed world. This is the very essence of globalisation. At not one point will this agreement be put to the people by their governments in referendum, or even allow them to voice their opinions. The public are not having the discussion and the shameful lack of media attention will keep it that way. There is no cognitive dissonance attached to placing TTIP in the context of globalisation.
119 Billion Euro Vs. The Public Will
There are many proponents who want to see a successful agreement reached between the two atlantic super-powers. In Ireland, Mark O'Mahoney, Director of Policy and Communication for Chambers Ireland is one such advocate. In a Journal.ie article he provides good insight into the economic benefits estimating a €119billion per year profit into the EU economy. At a time when the Eurozone is on its knees and with economic forecasters predicting a further recession, one could argue this would solve a growing economic crisis and stabilise the EU and Eurozone, with foreign investment potentially lifting states such as Greece out of bankruptcy.
However, there is a small but loud political movement either side of the pond fighting for an end to negotiations. Governments remain silent with talk of recession on the horizon and there has been an utter failure by mainstream media to tackle the issue. It seems those charged with protecting our democratic interests are sitting idly back whilst selling our nations sovereignty and democratic freedoms in the name of capital gain and corporate greed.
Despite the lack of coverage and the general lack of knowledge of TTIP's existence among EU citizens, a petition has so far managed to collect over 3.2 million signatures (a tiny number compared to the population of Europe) opposing the trade deal altogether. Given that almost nobody has heard of TTIP this is a remarkable achievement. The public are only now beginning to wake up to the fact they are been signed into a globalised pact that are removing decision making powers from their own governments.
Governments, the EU Commission, and shadowy foreign stakeholders are currently negotiating the future of our economies and we currently have no say in the outcome. If ISDS is included nations will lose sovereignty to the establishment of what (I imagine) would be a seemingly unjust international reparations board, which would condemn tax payers money to the pockets of nameless, faceless capitalist oligarchs.
Sign the petition and start worrying.
