Throughout the coming weeks, the European Parliament will decide its position on the TTIP, which is being negotiated right now. One of the pact’s most controversial aspects is the investor-state-dispute settlement (ISDS) system. This gives privileges to big firms, which could lodge complaints against states if they think their private interests may be damaged by a political decision or a legislation change.
Together, the ISDS and the TTIP are unacceptable from a democratic point of view, as they reduce the states’ capacity to approve laws that protect human and labour rights, health and the environment.
The majority of the citizens (97%) who took part in the European public consultation on ISDS in summer 2014 firmly rejected this system developed in accordance with multinationals. Now its the turn of the European Parliament to take a stance and show that it represents the public. The European Parliament’s vote will not be binding, but it will send a clear political message with respect to the TTIP negotiations.
Via this online cyberaction, no2ISDS, anyone can take part and ask the European MPs to flatly reject and say NO to the ISDS, and to back the general consensus against the TTIP.
A Friends of the Earth study reveals that European governments have already paid at least EUR 3,500 million to private foreign investors due to an existing clause, similar to the ISDS, in international trade agreements. This document demonstrates that these systems directly affect the public and benefit big business with multimillion pound payments that the states are obliged to pay with taxpayers’ money.