Investor protection: 5 state proposal for EU ISDS
A group of five EU member states has presented a non-paper proposing to replace individual countries’ bilateral investment protection treaties with a new EU agreement. The proposal by the five countries - Austria, Finland, France, Germany and the Netherlands - comes as the EU is continuing to struggle with opposition to controversial proposals for private tribunals on investor protection (ISDS) in the context of the EU-Canada (CETA) and EU-US (TTIP) trade agreements. Commenting on the new proposals, Green trade spokesperson Ska Keller said:
"This proposal appears to be the latest straw being grasped at in the attempt to preserve the deeply unpopular investor protection provisions. Instead of dealing with the real concerns being raised about providing corporations with private, extra-judicial means to challenge democratically-decide rules and decisions, we have a proposal for an intra-EU ISDS mechanism that yet again ignores this core issue."
You can read the Non-Paper here.