The European Commission has today presented its proposal for an 'Investment Court System' to replace the proposed Investor-State Dispute Settlement (ISDS) mechanism in ongoing Transatlantic Trade and Investment Partnership (TTIP) negotiations.
The move has been slammed by MEPs, including Alyn, as sleight of hand that maintains the key aspects of ISDS that proved so contentious for politicians and constituents alike, such as the ability for businesses to sue Member State governments through private courts.
“These so-called "reforms" have not solved the fundamental problem of special courts for foreign corporations, and is nothing but a way to dump the toxic ISDS acronym and replace it with a near-identical ICS. This is nothing more than putting lipstick on the ISDS pig.
“Instead of responding to widespread concerns about ISDS, EU Trade Commissioner Cecilia Malmström has indulged in a political marketing exercise.
“The US has insisted on ISDS in the context of EU-US TTIP negotiations, and while I am in no way opposed to free trade on ideological grounds, I have some serious reservations about TTIP, and am deeply concerned that it looks like private corporations will have the ability to sue governments.
“I will continue to monitor this situation, and to keep constituents updated via my dedicated TTIP newsletter. My red lines are clear and I will not compromise upon them. The NHS and other public services must be clearly carved out, European standards must not be compromised and corporations must not be given any special rights to sue governments that pursue policies they disagree with.”