Commission to publish results on investment protection consultation for EU-US trade deal- Lynn Boylan MEP
Dublin Sinn Féin MEP Lynn Boylan has commented on the latest Friends of the Earth statement on the investment protection mechanism expected to be included in the Transatlantic Trade and Investment Partnership.
Speaking today Ms Boylan said:
“The Commission is expected to publish the results of the public consultation this week. According to Friends of the Earth Europe, the consultation had the highest number of responses ever for a European Commission public consultation, with at least 88% of respondents clearly indicating that they don’t want an ‘investor-state dispute settlement’ mechanism (ISDS) in the trade agreement.
Sinn Féin has made it clear time and time again that it will not support the inclusion of the ISDS in TTIP, with the France, Germany and the UK also voicing their opposition.
The ISDS mechanism would allow multi-national companies to take legal action against Ireland if our legislation has a negative impact on their economic activity. The clause would in effect trample on the sovereign rights of Member States as it means that unelected transnational corporations can question, challenge and ultimately dictate the policies of democratically elected governments.”
In relation the consultation process itself, Ms Boylan stated:
“The consultation process was flawed. Participants did not have the option of completely rejecting the inclusion of ISDS but instead were only empowered to venture opinions on the Commission’s reform proposals for the ISDS system. Also the consultation document was 44 pages long and unnecessarily complicated.
I wait with bated breath for the Commissions results but leaked documents show that the Commission is set to downplay the huge public opposition to the ISDS mechanism. In effect disregarding the largest ever public response to EU policy proposals.”