YES reaffirms its continuing strong opposition to TTIP

 

YES expresses its deep concern with the recent vote by the International Trade Committee of the European Parliament with respect to the Transatlantic Trade and Investment Partnership (TTIP) and the role played by Socialist & Democrat (S&D) MEPs in the passage of that vote.

We are particularly dismayed by the committee’s failure to oppose the Investor State Dispute Settlement (ISDS) or similar “investor protection” mechanisms which could be contained in the treaty.  This mechanism would give corporations the power to sue governments over losses incurred from social, economic or environmental regulations.

It was especially disappointing that S&D MEPs on the committee retreated from their previous opposition to including “investor protections” in the TTIP agreement.

YES reaffirms its continuing strong opposition to ISDS for TTIP and CETA.  ISDS and similar “investor protection” clauses go against the basic principles of sovereignty of democratic governments. Corporations should be accountable to democratic governments, not the other way round. Measures contained in TTIP also threaten to seriously undermine European environmental, social, consumer and worker protections.

In this sense we believe that TTIP and the investor protection clauses should be seen as fundamentally at odds with basic social-democratic values.
YES calls on all European Socialists, including MEPs, to take a common and firm position of opposition to TTIP and to its investor protection mechanisms.

S&D MEPs should submit or support amendments opposing ISDS to the draft provisions of the trade committee’s TTIP recommendations. If the draft is not amended, we call upon S&D MEPs to vote against TTIP in the plenary session of the European Parliament on June 10th.

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