The Trade in Services Agreement (TISA) a trade agreement covering 50 countries and more than 68 percent of world trade in services is being drawn up between the EU and the US. The draft agreement was supposed to remain secret and you weren’t going to be told why it was being agreed or what its effect would be until five years after it was agreed. But now you know, thanks to Wikileaks. And TISA is arguably the worst “trade deal” proposed to date. It aims to set in stone the extreme deregulatory model of the 1990s by forbidding countries from improving financial regulation.
It also establish rules favourable to the expansion of financial corporations into other states by preventing new regulation and rolling back post-credit-crunch changes in regulation. As Lori Wallach, director of Public Citizen’s Global Trade Watch and author of The Rise and Fall of Fast Track Trade Authority, puts it on Democracy Now:
it may require countries to stand still relative to where they were when the WTO [World Trade Organisation] services agreement was established in the 1990s, and that would mean all of these new regulations that were put into effect after the global financial crisis would automatically be violations.”
For more information see the extract from the Democracy Now news interview above.
Image credit: Wikileaks
The Democracy Now video is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License
No surprise at all, the yanks have been worried about the United state of Europe for a while now.
yet again being sold down the river by this lot greed its seems is the order of the day wake up before you find you to are that slave stacking shelves in the salvation armys offices ops