Meet CETA, TTIP’s dangerous cousin

By   October 23, 2015

CETA is bad for workers, environment, public services and democracy, and it is set to come to European Parliaments as early as 2016.

One year ago Canada and the EU finalised a trade deal known as CETA (the Comprehensive Economic and Trade Agreement).

If you haven’t heard of CETA, what you need to know is simple – it’s like TTIP but coming sooner.

CETA is bad for workers, environment, public services and democracy, and it is set to come to European Parliaments as early as 2016. If CETA gets voted through it will make it easier for bad deals like TTIP to be successful. This is why the TUC has launched an online petition calling on MEPs to say no to CETA – we want as many people as possible to sign and share it.

The big danger in CETA is that it contains Investor-State Dispute Settlement (ISDS), the notorious corporate court system which allows foreign investors to sue governments for policies they regard as threatening future profits. This could include minimum wage policies, environmental protection, and renationalising public transport, health and education services.

Canadian investors have been eager to use ISDS in the past, with the Canadian company Methanex suing the state of California for banning chemicals that risked contaminating the state’s drinking water.

EU investors are heavy users of ISDS too. In one case, a Dutch company called Achmea used ISDS to sue Slovakia before it joined the EU for renationalising its health service which has resulted in Slovakia being forced to pay 1.32 million Euros in arbitration costs so far.

For the full article go to Left Foot Forward.

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