Momentum in Europe swinging away from TTIP support- Lynn Boylan MEP
Sinn Féin MEP Lynn Boylan has welcomed the news that the Dutch parliament yesterday passed a resolution stating that it doesn’t want the Investor-State-Dispute-Settlement (ISDS), which allows companies to sue states, included in the Transatlantic Trade and Investment Partnership (TTIP) or Comprehensive Trade and Economic Agreement (CETA).
Speaking this afternoon the Dublin MEP said:
This Dutch parliament resolution follows on from a resolution by the French Senate in February that unanimously adopted a resolution calling for the removal of the controversial mechanism.
Irish Government should adopt a similar resolution opposing this measure and put some pressure on the Commission about TTIP while the negotiations are still underway.
Instead Minister Bruton openly supports ISDS and continues to laud the trade agreement without casting a critical eye over the potentially negative consequences.
Ireland is a strong trading company with both the US and Europe and has never needed a mechanism like ISDS.
Where ISDS is used under trade agreements, figures show that in 45 cases up to March 2014 about USD$5 billion in total was awarded to foreign investors.
Under current ISDS models the investor can only sue the state. The state is unable to sue the investor. If this mechanism was adopted under TTIP it would potentially allow investors to sue Ireland if it raised the minimum wage or make it incredibly easier for a tobacco company to sue over the introduction of plain packaging.
I hear the government talk of a reformed ISDS but surely if Ireland is successfully trading without ISDS why would they want anything to do with this deeply undemocratic mechanism?