Media Release

Sunday 13 February 2011

New Zealand must avoid the mistakes of Europe

 
"The Transpacific nations must avoid the mistakes of Europe" John Ring, New Zealand Democrats for Social Credit spokesperson on Foreign Affairs said today.  "Many European countries are getting into difficulties because they have signed international treaties that limit what economic policies they may follow.

"They haven't just signed away the control over their currency, which every government needs to have.

"Both France and Germany considered adopting a financial transaction tax, but the European Commission told them they couldn't, because of a treaty provision that says that transfers of money between European Union countries must be conducted ‘freely and without delay'. The same provision also appears in all the United States' trade agreements.

"The countries negotiating the Transpacific Partnership Agreement continue to maintain an unnecessary level of secrecy. The New Zealand Democrats for Social Credit urge the negotiators to follow the example of the World Trade Organisation and make the texts public.

Apart from a leaked New Zealand text on intellectual property, no texts have been made available to the general public, although it is known that a document on financial services was discussed about a year ago, and United States negotiators have said that New Zealand negotiators have agreed to Investor - State Dispute Settlement, which allows companies to sue countries for following policies that breach treaties.

"There are many other possible problems as well," said Mr Ring. " When submissions were called in New Zealand the largest number of submissions against were from people worried that New Zealand might be required to adopt the United States' intellectual property laws, which tend to stifle the growth of a knowledge economy."

Another round of negotiations takes place in Chile this week.

 
ENDS

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