You may ask
What Has the European Union, USA and a little known agreement got to do with the Transition Movement?
The TTIP, or the Transatlantic Trade and Investment Partnership currently being negotiated between the European Union (EU) and the United States of America endangers our democracy.
The EU commission has been forced to to have a public consultation into the investor-to-state dispute settlement (ISDS) which is a part of the agreement. This allows investors (Multinationals) to sue National Governments for future unknown losses because of decisions made by an elected body.
As there are a great number of company’s incorporated both in America and the EU this poses a threat.
Qubeck has banned fracking, Lone Pine Resources Inc. is suing Canada for $250m.
(If our government bans fracking we, via our Tax will have to pay).
Australia have banned logos on cigarette packs. Philip Morris Asia is suing Australia for an undisclosed sum.
Germany phases out nuclear power, Swedish energy company Vattenfall is suing Germany. The Swedish company has already filed suit once against the German government at the ICSID International court. In 2009, Vattenfall sued the federal government over stricter environmental regulations on its coal-fired power plant in Hamburg-Moorburg, seeking €1.4 billion plus interest in damages. The parties settled out of court in August 2010.
(Vattenfall who we see as a green has plans to open the largest brown coal mine in Europe in Saxoney).
In Greece the Government down graded its bonds now international banks and finance company’s are lining up to sue the Government using ISDS this will impoverish the government at the gain of the few.
This endangers the democratic process.
The courts are also completely confidential, and therefore outside of public scrutiny, the judges are paid by each case so its in their interest to encourage more cases.
Follow these links to find out more.