Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-07-15-Speech-2-200-000"
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"en.20140715.9.2-200-000"2
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"Mr President, we should not underestimate what a huge achievement a free pact with the US would be. The benefits to the EU economy are conservatively measured in the billions, and this is a practical step we can take to achieve real economic recovery. Although investor-state dispute resolution and transparency are genuine issues, they are solvable and should not be used as an excuse for protectionism.
The best way to get the global economy moving again is via increased capital flows with appropriate financial supervision and regulation that avoids loopholes between jurisdictions. Ninety-five per cent of derivative trades and 80% of all financial transactions happen between the EU and the US. We finally have high-level agreements that our legislation on both sides of the Atlantic should achieve the same outcomes, yet barriers remain. TTIP should provide a framework for both the US and the EU to meet and solve remaining areas of contention, even outside of the formal trade agreement. The political will is already there to work together. It is now up to both American and EU politicians – and regulators – to show that they are able to achieve tangible results that really do break down the barriers to moving capital, as well as goods and services, on both sides."@en1
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