ISDS: The most toxic acronym in Europe
There has been a public outcry over a once-obscure element of international trade agreements.
There must have been some nervous
people at the International Sheep Dog Society when the European Union’s
trade commissioner flew into Washington recently and declared “ISDS is
now the most toxic acronym in Europe.”
people at the International Sheep Dog Society when the European Union’s
trade commissioner flew into Washington recently and declared “ISDS is
now the most toxic acronym in Europe.”
Fortunately for shepherds everywhere,
Cecilia Malmström was not suggesting the continent is turning against
its canine companions.
Cecilia Malmström was not suggesting the continent is turning against
its canine companions.
She was instead recognizing a public
outcry over a once-obscure element of international trade agreements
known as Investor-State Dispute Settlement.
outcry over a once-obscure element of international trade agreements
known as Investor-State Dispute Settlement.
That very same ISDS is jeopardizing
efforts by the EU and United States to create the world’s largest free
trade zone — a $34 trillion market stretching from Honolulu to Helsinki —
and stands as a potential key stumbling block for TTIP negotiations.
efforts by the EU and United States to create the world’s largest free
trade zone — a $34 trillion market stretching from Honolulu to Helsinki —
and stands as a potential key stumbling block for TTIP negotiations.
Opponents of the transatlantic trade pact
have made it their top target, claiming it gives multinational
corporations a stranglehold over elected parliaments and national
courts.
have made it their top target, claiming it gives multinational
corporations a stranglehold over elected parliaments and national
courts.
