'Favoring Capitalist Interests Above All Else,' Europe's Parliament Backs TTIP

http://www.commondreams.org/news/2015/07/08/favoring-capitalist-interests-above-all-else-europes-parliament-backs-ttip



Environmental and social justice groups warn that resolution promotes corporate interests above public health, safety, environment, and democracy

'Favoring Capitalist Interests Above All Else,' Europe's Parliament Backs TTIP
Lauren McCauley
Wednesday, July 08, 2015

Members of European Parliament (MEPs) on Wednesday passed a resolution on the pending trade deal between Europe and the United States, backing a controversial provision that critics warn places corporate profits above the health and safety of the people and puts the continent's fragile democracy at great risk.

Despite clear disagreement within European Parliament (EP) over the inclusion of a modified version of the Investor State Dispute Settlement (ISDS) provision, MEPs voted 436-241 in favor of a draft text of the Transatlantic Trade and Investment Partnership (TTIP).

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Wednesday's vote came after contentious manipulations on the part of EP President Martin Schulz—for which he was accused of "shredding the rules of procedure"—to a remove an amendment that would have taken ISDS off the table entirely.

To date, more than 145,500 people have signed a petition calling for the exclusion of the ISDS mechanism, which establishes a parallel legal system enabling corporations to sue governments if public policy harms their profits. Further, 2.3 million people are backing a European Citizens Initiative to end TTIP negotiations altogether. In April, a global day of action against the deal saw tens of thousands of protesters across the European continent.