Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-06-Speech-3-375-000"
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"en.20110406.29.3-375-000"2
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"I voted for this report, which calls for better definition of investor protection standards and greater transparency in the arbitration system, the right to appeal against decisions by international arbitrators and the possibility to consult trades unions and civil society organisations. Until now, investment agreements were so focused on investor protection that companies could sometimes operate in developing countries without respect for environmental or social considerations. Such behaviour will no longer be tolerated. This is why the report calls for new rules and for corporate social responsibility to be a core element of any future agreement. The world has changed. The EU will increasingly receive foreign investment and we cannot push investor protection to the detriment of the general interest. The report calls for a real balance between public and private interests. It aims at effective protection of European investors from illegitimate expropriations or disguised legislation intended to cut them out of certain markets. It also guarantees that public authorities will always be able to regulate in favour of the general interest. I call for root and branch reform of the dispute settlement mechanism, which so far enabled private companies to take legal action against countries and sometimes attack their social and environmental law."@en1
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