Dangerous backing given to Investment to State Dispute Settlement system
“The ISDS mechanism is totally inacceptable because it allows transnational corporations to elude the normal jurisdiction of the countries in which they invest, and it ignores the necessity for the state to keep policy space to apply social and environmental rules” said GUE/NGL MEP Helmut Scholz.
The GUE/NGL asked to suspend this vote and to send this report back to Parliament's International Trade committee. “Given the fact that the European Commission just recently launched a public consultation on this controversial mechanism, it is crucial that we first see its results before taking such decisions on this issue. We also want the Commission to present to Parliament an evaluation of the possible cost of the application of this mechanism for the EU budget, and European taxpayers” said Scholz.
GUE/NGL deplores that the majority of the Parliament, including the centre-left Socialists and Democrats group, decided to support this report on ISDS, without waiting for the results of a citizens consultation and despite this budgetary uncertainty.