Wikileaks - Secret Trade in Services Agreement (TISA)

TonySutton

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Is this what wikileaks has for us today? Looks pretty interesting

Memorandum on Leaked TISA Financial Services Text
by Professor Jane Kelsey, Faculty of Law, University of Auckland, New Zealand

This memorandum provides a preliminary analysis of the leaked financial services chapter of the Trade in Services Agreement dated 14 April 2014. It makes the following points:

The secrecy of negotiating documents exceeds even the Trans-Pacific Partnership Agreement (TPPA) and runs counter to moves in the WTO towards greater openness.
The TISA is being promoted by the same governments that installed the failed model of financial (de)regulation in the WTO and which has been blamed for helping to fuel the Global Financial Crisis (GFC).
The same states shut down moves by other WTO Members to critically debate these rules following the GFC with a view to reform.
They want to expand and deepen the existing regime through TISA, bypassing the stalled Doha round at the WTO and creating a new template for future free trade agreements and ultimately for the WTO.
TISA is designed for and in close consultation with the global finance industry, whose greed and recklessness has been blamed for successive crises and who continue to capture rulemaking in global institutions.
A sample of provisions from this leaked text show that governments signing on to TISA will: be expected to lock in and extend their current levels of financial deregulation and liberalisation; lose the right to require data to be held onshore; face pressure to authorise potentially toxic insurance products; and risk a legal challenge if they adopt measures to prevent or respond to another crisis.

Without the full TISA text, any analysis is necessarily tentative. The draft TISA text and the background documents need to be released to enable informed analysis and decision-making.

http://wikileaks.org/tisa-financial/analysis.html#efmAVzAZI
 
Anybody already know about this treaty?

Well. It depends upon which country you're talking about. Some know more than others just because of efforts to make it as such. A lot of countries are waking up to the thing because it interfers with things that they traditionally and historically hold in a sovereign way. And there is dwindling support for the screed abroad now that it is getting out.

Here is a good discussion on that phenomenon. Pay special attention to the specific areas in which these countries would take issue with the thing and then we're left with a reason why the U.S. and the corporate interests whio have penned this thing want to keep it secret. If the facts came out then there would be riots on streets abroad. That's a fact.

I like the way it is discussed here because its accurate...


JH: The first reason for the secrecy is because the European Commission and the US trade representatives, they know that if people really find out about what was going on in these negotiations, there would be up in arms. There is already outrage across the whole of Europe, about what we have already learned about the TTIP, so if people really could see line by line what is being negotiated away behind closed doors, than there will be a revolution on the streets. And I think that terrified them, that’s why they tried to keep it all in secret.


RT: Is there a really such a need to ring the alarm bell?

JH: We have seen already that the US government has made it clear that they are not interested in the usual trade negotiations which we have known during the past 60 years or so. Those tend to focus on the tariff barriers, the import taxes that were charged for the goods imported into other countries. That is not really at stake here in the EU-US negotiations because the tariff barriers between the EU and the US are already at minimal levels. What they've said is in play now are the regulations, the standards, that means the environmental standards, the labor standards and all other social safety net that we enjoy in Europe. And that means food standards, all of the food safety regulations that we have built up in Europe over decades. These are precisely the regulations that have been targeted by big businesses in the US for removal. Why? Because they say that there are unwarranted barriers to them to be able to make the profits that they wish to make trading and investing in Europe, but for people in Europe these are the most prized social and environmental standards that we have fought for years to uphold and develop. So the idea that we should just keep them away just to satisfy big business in the USA, that’s unconscionable.

Similarly, the EU is working on behalf of big business in Europe to try to exercise the same thing in the US. For example, after the big financial crash of 2008 the US government introduced new laws, new regulations on banks and other financial services – the City of London in the UK, also the French and German banks would much rather not have to meet these new standards, so they are lobbying the European Commission to try to get rid of these standards as well, which means it is basically attack on people, society and environment in both Europe and the USA by big business which has no care for any of them.

RT: How has public opinion on the TTIP deal changed since talks began?

JH: I think it depends on which country you are talking about. We have already seen it in Germany, there is a very high awareness of TTIP, of these new negotiations and they are regularly in the newspapers, on television and people by and large are very opposed to it. Recent polls that we have seen suggest 55 percent of people in Germany are against new TTIP negotiations and only 30 percent or so are in favor. In Britain it is really well-known among activists, among trade unionists, partly because one of the big threats of the negotiations is that according to the EU Commission’s own statistics it will cost at least one million jobs in Europe and the US combined. That means [that] at the time of huge unemployment in Europe and the US another one million people will lose their jobs as a direct result of these negotiations. And that is why gradually more and more trade unionists are becoming really upset about it. But it is clear that we still have a job to do to get the vast masses of the general public across the whole of Europe to learn about it. Yes, in some countries they already know, but in others there is still quite a lot of work to do.
'TTIP agreement is an attack on people, society and environment in both Europe and the US'


Aside - this was part of a series of the 14 most-underreported news stories of 2014
 
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