T
he Globe and mail reports that Stephen Harper’s efforts to clinch a massive trade pact with the
European Union have got caught up in growing public anxiety among
Germans over what rights U.S. investors would get in a similar deal –
the latest bump in the road for the Prime Minister’s long-sought
agreement.
Berlin’s concerns most recently came to light on Saturday when a Munich newspaper quoted unnamed German officials saying they could not sign the Canada-EU deal in its current form. At issue, the Sueddeutsche Zeitung reported, are rights granted to foreign investors to challenge Berlin policy makers’ decisions, with the final say going to an independent arbitration panel rather than German courts.
Nine months have elapsed since Mr. Harper and European Union officials held a mission-accomplished press event to herald a tentative deal, but what were supposed to be merely followup technical discussions have dragged on longer than expected.
Germany’s ambassador to Canada said he does not believe investor rights will be a deal-breaker.
“This is a very important but small part of a very comprehensive agreement which will benefit both sides. So this will certainly not bring the process to a halt,” Werner Wnendt said in an interview.
But, the envoy added, the Sueddeutsche Zeitung article reflects concerns in Germany that need to be taken seriously. “It reflects a debate that is ongoing,” he said.
The real worry for Germans and most of the EU is mainly the separate trade agreement the EU is presently negotiating with the United States.
The majority of EU politicians in Europe say that the potential EU-US deal which has a lot of similarities to the Canadian trade deal provides far too many liberties to US investors and corporations, thereby becoming "untouchable" in terms of EU legal standards and also even able to sue EU governments whenever it suits them.
EU-Digest
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| Does EU need a lopsided trade deal with US ? |
Berlin’s concerns most recently came to light on Saturday when a Munich newspaper quoted unnamed German officials saying they could not sign the Canada-EU deal in its current form. At issue, the Sueddeutsche Zeitung reported, are rights granted to foreign investors to challenge Berlin policy makers’ decisions, with the final say going to an independent arbitration panel rather than German courts.
Nine months have elapsed since Mr. Harper and European Union officials held a mission-accomplished press event to herald a tentative deal, but what were supposed to be merely followup technical discussions have dragged on longer than expected.
Germany’s ambassador to Canada said he does not believe investor rights will be a deal-breaker.
“This is a very important but small part of a very comprehensive agreement which will benefit both sides. So this will certainly not bring the process to a halt,” Werner Wnendt said in an interview.
But, the envoy added, the Sueddeutsche Zeitung article reflects concerns in Germany that need to be taken seriously. “It reflects a debate that is ongoing,” he said.
The real worry for Germans and most of the EU is mainly the separate trade agreement the EU is presently negotiating with the United States.
The majority of EU politicians in Europe say that the potential EU-US deal which has a lot of similarities to the Canadian trade deal provides far too many liberties to US investors and corporations, thereby becoming "untouchable" in terms of EU legal standards and also even able to sue EU governments whenever it suits them.
EU-Digest
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