The US-EU Transatlantic Free Trade Agreement (TAFTA): Big Business Corporate Power Grab
by Colin Todhunter
Global Research Canada, 4 October 2013
The Transatlantic Free Trade Agreement (TAFTA) between the US and EU intends to create the world’s largest free trade area, ‘protect’ investment and remove ‘unnecessary regulatory barriers’. Corporate interests are driving the agenda, with the public having been sidelined. Unaccountable, pro-free-trade bureaucrats from both sides of the Atlantic are facilitating the strategy (1)
Many citizens groups have criticised the secretive negotiations and are demanding that they be conducted in an open way. This is growing concern that the negotiations could result in the opening of the floodgates for GMOs and shale gas (fracking) in Europe, the threatening of digital and labour rights or the empowering of corporations to legally challenge a wide range of regulations which they dislike.
The public in Europe does not want such things. People want powerful corporations to be held to account and their practices regulated by elected representatives who they trust to protect their interests, the public good. However, the TAFTA seems an ideal opportunity for corporations to force wholly unpopular and dangerous policies through via secretive, undemocratic means. They have been unable to do this in a democratic and transparent manner, so secret back room deals represent a different option.
If the pro-free-market bureaucrats and corporations get their way and successfully bar the public from any kind of meaningful information input into the world’s biggest trade deal ever to be negotiated, Europeans could end up becoming the victims of one of the biggest corporate stitch ups ever. Left unchallenged, it will allow huge private interests to dig their profiteering snouts into the trough of corporate greed at the expense of ordinary people.
And that’s not hyperbole. Such a view is confirmed by the release of a new report on the eve of the second round of negotiations that are due to begin in Brussels next week.
Kim Bizzarri, the author of the report:
“Big business lobbies on both sides of the Atlantic view the secretive trade negotiations as a weapon for getting rid of policies aimed at protecting European and US consumers, workers and our planet. If their corporate wish-list is implemented, it will concentrate even more economic and political power within the hands of a small elite, leaving all of us without protection from corporate wrongdoings.”
The report also warns that the agreement could open the floodgate to multi-million Euro lawsuits from corporations who can challenge democratic policies at international tribunals if they interfere with their profits.
Pia Eberhardt, trade campaigner with Corporate Europe Observatory and author of ‘A transatlantic corporate bill of rights’:
“The proposed investor rights in the transatlantic trade deal show what it is really about: It’s a power grab from corporations to rein in democracy and handcuff governments that seek to regulate in the public interest. It’s only a matter of time before European citizens start paying the price in higher taxes and diminished social protection.”
Consumer watchdogs, digital rights and trade activists, environmentalists and trade unions are preparing to fight the corporate dystopia put forward in the EU-US trade deal.Luis Rico of Ecologistas en Acción, a member of the Seattle to Brussels network:
“We hope that the disturbing evidence we provide will show why all concerned citizens and parliamentarians on both sides of the Atlantic need to urgently mobilise against the proposed EU-US trade deal. We have to derail this corporate power grab that threatens to worsen the livelihood of the millions of people already seriously affected by the financial crisis and by the crippling consequences of Europe’s austerity reforms.”Do we want increasingly bad and unhealthy food, our rights at work being further eroded, the environment being damaged in the chase for profit, ever greater reckless gambling in the financial sector or our elected representatives being by-passed via international tribunals? Of course we don’t.
Where is the democracy surrounding this proposed TAFTA? Where is ordinary people’s protection from the ‘free’ market corporate-financial cabals that ultimately drive global economic policy and geo-political strategies? By translating corporate power into political influence at the G8, G20, WTO, NATO or elsewhere, whether it is by war, threats, debts or coercion, secretive and undemocratic free trade agreements are but one tool that very powerful corporations use in an attempt to cast the world in their own image (3,4).
Global Research Canada