Skip to comments.EU-Canada free trade deal ‘opens door to environmental lawsuits’
Posted on 02/11/2014 3:16:40 AM PST by Olog-hai
Multinationals will have wide-ranging powers to sue EU states that enact health or environmental laws breaching their legitimate expectations of profit, according to a leaked investment chapter from the Canada-EU free trade agreement (CETA), which was signed last November.
A separate nature and scope document for EU-US free trade talks, which EurActiv has seen, makes clear that similar parameters are foreseen for a Transatlantic Trade and Investment Partnership (TTIP) agreement.
The CETA investment chapter proposes a definition of fair and equitable treatment (FET) for investors which has sparked multi-million dollar lawsuits, such as one by Lone Pine challenging a shale drilling ban by the Canadian state of Quebec.
EU officials have reportedly not challenged the authenticity of the leaked document, which was published online by the Trade Justice Network, although they were unavailable for comment on the issue.
(Excerpt) Read more at euractiv.com ...
The investor can protect himself from the state on taxes, but the state can impose regulations that are taxes masquerading as regulations, which can take the form of environmental, labor, or welfare regulations.
Unless the Trade deal eliminates EU from VAT taxing Canadian imports...Canada is screwed.
Free Trade doesn’t work...and all the liberal economists at liberal universities cannot theorize around that fact