The fear of the free trade agreement with America is great.
In recent months, citizens, media and politicians have much concerned with the planned EU-US free trade agreement. It runs under the symbol TTIP (Transatlantic trade and investment partnership). In addition to the infamous chicken chlorine in particular is the fact proposed investment chapter in the criticism. Because the investment chapter is included in all likelihood terms for market access, to treat established foreign investors and to protect their investment. The partnership agreement should ensure investment protection through international arbitration. Such arbitration will allow foreign investors to circumvent national courts and sue host states on compensation payments for open or insidious regulatory expropriation.
Critics warn that the investment protection clauses would the European rule of law and democracy subordinated to the profit interests of international investors. In the future, American investors could coat the EU and its Member States with complaints before international arbitration tribunals. The arbitration proceedings tending to negate cost-driving social or environmental regulations and to demand compensation for lost profits.
The trade agreements will therefore difficult for Member States and the EU to continue to regulate for the benefit of its citizens, since they could expect permanent costly lawsuits. A cavity (Regulatory Freeze) the national legal system would result. The current arbitration process Vattenfall against Germany in which Vattenfall compensation for losses overwhelmed by the nuclear phase is often cited as a cautionary example. Therefore, critics are calling the Stop the negotiations on investment protection clauses. The Federal Government shares this requirement, but probably not to endanger rather to the conclusion by controversial investment protection clauses.
emergence as genuinely new risks for the rule of law and democracy? What risks does the envisaged investment chapter? But on sober reflection shows that the TTIP agreement is expected to change the status quo only slightly. The EU Member States and the United States have completed to date about 1300 international investment protection agreements with third countries. Worldwide, there are a total of about 3500 such agreements. The content of this agreement is nearly identical to the envisaged investment chapter in the new partnership. It should thus not structurally create new risks or limit the regulatory scope in Europe and the United States significantly. But the Federal Republic has completed 134 such agreements with third countries since 1959. The Federal Republic is the world leader. She would have feared the “Regulatory Freeze” must get to feel for five decades.
American investors can sue the Member States and the Federal Republic against international arbitral tribunals also today. On the one hand have already completed investment protection agreements with the United States eight Eastern European Member States. On the other hand, American investors sue Member States, which have hitherto not concluded investment protection agreements with the United States. International investors are mostly multinational companies with subsidiaries in a number of third countries. With skillful legal and managerial structure, it is American Investors already possible to access one of the approximately 1300 existing investment protection agreements between third countries and Member States to sue latter before arbitration tribunals.
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