- Published on Monday, 31 March 2014 10:07
Glyn Moody, who writes for ComputerWorld UK, has analysed the latest public consultation document on ISDS and TTIP and come up with a surprising nugget of information buried within it. The net economic benefit of TTIP to European citizens is an extra cup of coffee each month.
TTIP Update XXI by Glyn Moody
What is the cost of of that extra cup of coffee? Privatisation of health and other public services and removal of social, health, environmental protections.
TTIP is the US/EU Free Trade agreement, sometimes referred to as the TransAtlantic Free Trade Agreement (TAFTA), currently being negotiated.
Free trade agreements (FTAs) are weapons of wealth extraction which force the privatisation of public services and assets while cutting social, health, environmental protections. FTAs drive inequality and supersede national sovereignty.
Proponents of TTIP claim it will lower barriers to trade and boost the UK economy, making empty promises to maintain existing social, health and environmental protections.
- Only 20% of TTIP is to do with trade (lowering import tariffs etc.) and 80% to do with deregulation
- The claimed economic benefit is unlikely to materialise but even if delivered, it will only amount to 60 euros per annum for family of 4.
- Privatisation of the UK's NHS is already underway but under TTIP, any future elected government won't be able to reverse it.
- No public assets or services will be safe once TTIP is in force – it is irreversible
- GM foods are widely consumed in the US but currently restricted in Europe - “harmonisation” of regulation will allow GM foods to contaminate the food chain in spite of the risks to health and biodiversity
- Disputes between European governments and global corporations will be settled in private courts (Investor State Dispute Settlement [ISDS] tribunals) and judged by a panel of lawyers in the pay of the corporations
- ISDS will open up Europe to fracking
- TTIP will ensure even more of industry is “offshored” to exploit the young, the poor and vulnerable in developing nations while driving down European and American wages and employment
The North American Free Trade Agreement (NAFTA) between the US, Canada and Mexico has destroyed nearly a million jobs, across the three counties, in the 20 years it's been in force. The promised economic benefits of NAFTA failed to materialise: 47.5 million US citizens rely on food stamps to survive and income inequality is wider than it's ever been.
TTIP is drafted and negotiated for the benefit of corporations. Deregulation measures in TTIP are driven by the City of London, the European Round Table (50 of the largest global industrial corporations) and the European Services Forum (global insurance, finance, telecommunications corporations and employers' organisations).
Citizens and elected politicians aren't party to these negotiations, nor are we privy to the secret documents drafted to serve corporate interests.
TTIP is an attack on democracy and the people of the USA and the European Union.
Beware of corporations, commissioners and politicians dispensing coffee.