“The draft Financial Services Annex sets rules which would assist the expansion of financial multi-nationals – mainly headquartered in New York, London, Paris and Frankfurt – into other nations by preventing regulatory barriers,” WikiLeaks said in a statement. “The leaked draft also shows that the US is particularly keen on boosting cross-border data flow, which would allow uninhibited exchange of personal and financial data.” Additionally, the current draft also includes language inferring that, upon the finishing of negotiations, the document will be kept classified for five full years. “Amendments from the US are seeking to end publicly provided services like public pension funds, which are referred to as monopolies and to limit public regulation of all financial services,” she said. They want to freeze financial regulation at existing levels, which would mean that governments could not respond to new developments like another global financial crisis.
Posted on: Tue, 24 Jun 2014 20:00:11 +0000
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