AFLCIO President Richard Trumka with ETUC General Secretary Bernadette Segol.
MEPs must listen to the people and vote down #ISDS compromise in #TTIP debate
Our MEPs look set at last to debate and vote later this week on the promised resolution on the Transatlantic Trade and Investment Partnership (TTIP) deal between the EU and USA.
The European Trade Union Confederation (ETUC) is calling on MEPs to vote against the new compromise amendment on Investor State Dispute Settlement (ISDS), which proposes to scrap the old ISDS, only to bring in a new one.
The new amendment still gives foreign investors special legal treatment, which is clearly a hugely unpopular idea.
There has already been a public consultation on ISDS, and the outcome was 97% of responses against ISDS. MEPs are reporting a great swell of opposition in contacts they receive from constituents across Europe. But some people in the European institutions still seem determined to deliver ISDS for big business, regardless of what anyone thinks.
Giving ISDS another name, or making it more transparent, will not do the trick. The EU does not need an ISDS with the US. If an international trade tribunal is really needed, then it should be outside the EU-US deal, be open to all, and respect democratic rules.
We believe that even a reformed ISDS would still give foreign investors an opportunity to challenge legitimate decisions by democratically elected governments, and that words in the current compromise (“private interests cannot undermine public policy objectives”) offer no legal protection to such challenges.
This supposed ‘compromise’ is actually a step backwards from the previous position agreed by the Parliament’s INTA Trade Committee. We hope MEPs from across the Parliament will listen to their constituents and reject any TTIP deal that includes ISDS or this new compromise.