site.btaEconomists: TTIP Is Not Just Economic but Also Political Agreement Harbouring Serious Risks

Economists: TTIP Is Not  Just Economic but Also Political  Agreement Harbouring Serious Risks

Sofia, June 25 (BTA) - The Transatlantic Trade and Investment
Partnership (TTIP) between the US and the EU is not just an
economic but also a political agreement which harbours many
risks, both to the economy and democracy, agreed the
participants in an discussion forum dedicated to the risks of
TTIP to the Bulgarian industry. The event was organized by the
Confederation of Independent Trade Unions in Bulgaria (CITUB),
the Bulgarian Federation of Industrial Energy Consumers,
A-specto magazine and the Podkrepa Confederation of Labour.

According to Podkrepa President Dimiter Manolov, TTIP could
lead to the distribution of GMOs, and the opportunity it creates
for corporations to sue states also harbours risks. In his
words, the claims that some Europeans will receive certain
amounts of euro on average, mean that all of the money will go
in one place: the corporations.

Manolov noted that TTIP is not accepted well also by the United
States, which claims that every time it signs such agreements
the number of jobs in the US drops and the unemployment level
increases.

The participants in the forum noted that EU consumers currently
have much greater protection than US consumers, and the
possible entry into force of TTIP will bring meat treated with
hormones and other dangerous products to the European market.
The Investor-to-State Dispute Settlement mechanism of TTIP also
poses a risk, because it gives foreign companies the
opportunity to sue states when the governments adopt new or
amend already existing laws, the participants agreed.

Lyuben Tomev of CITUB quoted two European surveys showing that
TTIP's final effect on the revenues of households would be "an
additional cup of coffee per week, but not for everyone". The
effect on the EU employment level will be an increase by
slightly over 124,000 persons, which is insignificant and does
not justify TTIP's singing, he commented.

Later on Thursday, Labour and Social Policy Minister Ivailo
Kalfin was approached by journalists for a comment on TTIP. He
said that the agreement should not be supported in its current
version because, in his personal opinion, it contains more
disadvantages than benefits. According to him, the Government
should order and make an assessment of TTIP's effect, and he has
already turned to the Prime Minister with such a request. In
Kalfin's words, the problem lies in the Investor-to-State
Dispute Settlement and the opportunities for nationalizing
public services.

The Labour Minister also said that an agreement should be
reached on equal observation of both labour and ecology
standards. The advantages for the EU as a whole are being
discussed, but Bulgaria has its own economy and interests and
these should be taken into view in this country's national
position on TTIP, he added.

Asked about the possible benefits of TTIP, Kalfin said that the
opening of the markets gives more opportunities for the economy
but it is important whether these opportunities will be for
Bulgaria's competitive economy. He made a comparison with the
Bulgarian participation on the European markets, which provides
the country with a lot of export at the moment but with a low
value added.