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Colreavy warns of the dangers of TTIP

7 May, 2015 - by Michael Colreavy TD


Deputy Michael Colreavy, Sinn Féin spokesperson on Communications, Energy and Natural Resources has highlighted the dangers TTIP presents to Ireland and Europe.

Speaking on the issue Deputy Colreavy said:

“TTIP could have an adverse effect on Irish exports to the EU which account for over 60% of total exports.

“Some studies suggest that intra-EU trade could fall by around 30%.

“The Irish government need to commission an objective report to assess the benefits and risks facing Ireland as a result of TTIP.

 “The European Commission is negotiating this deal on behalf of Europe.

“The Lisbon Treaty gave the European Commission the power to make trade deals without input and without transparency.

“As a result of the Lisbon Treaty, European states lost many of their powers to bureaucrats in Brussels.

“The inclusion of the ISDS mechanism in the TTIP agreements has sparked huge controversy.

“This mechanism allows corporations to sue governments for loss of revenue when government regulations are seen to affect expected profits.

“Through ISDS companies can bypass the national court systems and go directly to international, investor-biased, tribunals.

“Through the ISDS mechanism, if contained within TTIP, the Irish government can be sued for millions of Euros for implementing any protections or bans on fracking.

“A moratorium on fracking is currently in place in Ireland until the completion of a scientific survey by the Environmental Protection Agency.

“A similar moratorium was put in place in the province of Quebec in Canada in 2012 to allow time for a similar survey to be carried out; as a result of ISDS enshrined in NAFTA, Canada is being sued for Cdn$250 million for potential profit loss.

“It’s that TTIP could have very bad prospects for Ireland and for the rest of Europe.” 

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