Trading Away Democracy

A report released last week – ‘Trading Away Democracy’ by Corporate Europe Observatory and others – looks at the experience of Canada. This is particularly relevant because, unlike Britain, Canada has actually shared such a system with the US for the last 20 years, under NAFTA (the North America Free Trade Agreement).

The report finds that, far from having nothing to worry about, Canada has faced 35 claims worth billions of dollars as a result of cases being brought by US transnationals. It’s already lost over $175million, but this could be the tip of the iceberg, as companies are suing Canada for such crimes as revoking drilling permits, subsidising renewable energy, placing a moratorium on fracking, questioning pharmaceutical patents, banning toxic additives in petrol and placing a temporary ban on the export of toxic waste. These cases cost Canada a small fortune just to fight, are held in secret, and give no right to appeal.

http://newint.org/blog/2014/11/26/ttip-transnational-suing/#sthash.V8w62bbY.gbpl