US-EU Trade Deal May Cost Europe Jobs

US-EU Trade Deal May Cost Europe Jobs © Flickr/ Global Justice Now

17:53 04.05.2015(updated 17:54 04.05.2015) Get short URL

The Transatlantic Trade and Investment Partnership agreement between the EU and US will create unemployment, rather than new jobs for the Europeans, according to Pierre Defraigne, Executive Director of the Madariaga, College of Europe Foundation in Brussels.

Activisits stage a protest against the US-EU Transatlantic Trade and Investment Partnership (TTIP), or Transatlantic Free Trade Agreement (TAFTA)

EU Chief Negotiator Urges TTIP Deal to Continue Despite Protests

As a bilateral trade agreement, TTIP, expected to be signed already before the end of this year, is about reducing the regulatory barriers to trade for big business, things like food safety law, environmental legislation, banking regulations and the sovereign powers of individual nations.

Hundreds of rallies warning against the downsides inherent in the agreement being negotiated have been held across Europe.

“Relations with America, so strategically important to Europe, remain fundamentally asymmetrical. The TTIP will make Europe even more dependent on the United States erasing jobs instead of creating new ones,” La Libre Belgique newspaper quoted Pierre Defraigne as saying.

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