Indeed, Britain’s largest trade union Unite recognised these and other threats when it adopted a resolution at its congress earlier this year calling for widespread opposition to the trade agreement which is a direct threat to social, working and environmental standards across Europe and the US, such is the level of deregulation involved. As well as threatening people’s rights in work and the environment, TTIP threatens what is left of democracy under capitalism with the inclusion of the ISDS clause. This clause allows any investor to sue a government if the investor feels they are being blocked from making profit. These disputes would be settled in closed, international and “independent courts” led by business “experts.” The reasons why this is bad for democracy should be clear. If a government comes to power with a policy of public ownership of industry, energy and transport, this agenda is directly threatened by TTIP. The capitalist hawks looking to profit from public services can sue the democratically elected and sovereign government on the grounds of “harming profits.” What’s more, in the event of two bids for a public service, the ISDS clause allows the losing bidder to sue the government on the same grounds. The inclusion of this clause has already alarmed the governments of France and Germany where the Socialists in France and the Social Democrats within Angela Merkel’s coalition fear dire electoral consequences unless they are seen to oppose.
Posted on: Fri, 31 Oct 2014 10:05:17 +0000
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