Commenting today on the late-stage negotiations taking place between the EU and the US in regard to the Transatlantic Trade and Investment Partnership (TTIP), Cllr Fitzpatrick raised concerns that, if passed, this partnership would make it financially prohibitive for a national state to do anything against the interest of corporations.
Cllr Fitzpatrick said “The TTIP, if passed will be one of the biggest bilateral trade agreements in history. There are huge benefits to corporations in this partnership, but unless amended there is little or no benefit to the public”.
Specifically focusing on the provision called the ‘investor-state dispute settlement’ Cllr Fitzpatrick said “This provision will allow private companies to sue nation states if they feel a law lost them money on their investment. If passed, the TTIP would enforce privatisation in international politics, making it financially ruinous for EU countries or the US to introduce any legislation which was not in the interests of corporations. We cannot allow this to happen, the European Commission has free reign to negotiate with the US however we need strong representation at EU and EP level to protect the interests of citizens”.
Fianna Fáil’s candidate for Dublin in the European elections Cllr Fitzpatrick stated “The final agreement can only be concluded by the Council and Member States with the consent of the European Parliament. The next European Parliament must take action to ensure the agreed treaty is in the interests of citizens and not just business”.