[TechDirt] Even The German Government Wants Corporate Sovereignty Out Of TAFTA/TTIP
The German federal government rejects special rights for corporations in the free trade agreement between the EU and the USA. [...]
Corporate sovereignty measures were added to earlier bilateral agreements when the legal systems of the country receiving foreign investment raised issues about their independence or where there was a fear that local governments might expropriate property with impunity. Neither can seriously be considered a risk in the case of the EU and US, and so investor-state dispute settlement (ISDS) is redundant, as the German government recognizes here.
If this really is Germany's view, it will have major consequences for the negotiations, since the European Commission won't be able to get TAFTA/TTIP accepted by the EU without Germany's full support. There remains some room for doubt, though, as the German Secretary of State also said: "arbitration tribunals of this kind should only be brought in as a last resort after exhausting all legal remedies brought in national courts." [...]