Quote:
Originally Posted by FuckingRotter
Well, the government of a tiny region of Belgium with a population of 3.5million has just kiboshed a trade deal between the EU and Canada at the last moment.
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If the Canadian deal is anything like the TTIP, I can't say I blame them. The ISDS (Investor-State Dispute Settlement mechanism) in the TTIP gives too much power to big companies and allows them to sue governments in private courts (cases heard in secret) if a company thinks government policies harms profits. It puts big company profits before citizens rights, environmental and health policies. Companies have sued governments already in these examples:
1. The French Veolia group used ISDS to sue Egypt for raising the minimum wage in 2012.
2. TOBACCO GIANT Philip Morris is suing Ireland for attempting to introduce plain-packaging for cigarettes, designed to warned people of the dangers of smoking.
3. Poland was forced to pay €2 billion to Eureko, an insurance giant, after it decided not to privatise public insurance in August 2005.
4. In Australia, Philip Morris sued Australia over plain-packaging for cigarettes. It lost its initial court battle, but then used ISDS to sue Australia once again via a Hong Kong subsidiary. The case is ongoing, and it is thought they’re looking for billions in compensation.
5. Germany is facing a €4.7 billion euro ISDS claim brought by a Swedish energy company, for deciding to phase out nuclear energy after the Fukushima disaster.