How Washington Will Use the TTIP to Ruin the European Economy

- What am I watching for in all these TTIP news? With the leaking of the TTIP text on Wikileaks, my suspicion is that only 10 countries (out of 28 EU nations) will sign this pact.
– - How Washington Will Use the TTIP to Ruin the European Economy
by http://sputniknews.com/
Washington is continuing to pressure European leaders to sign the Transatlantic Trade and Investment Partnership (TTIP) by the end of the year. However, the EU has resisted due to fears that some sectors of its economy would not be able to compete with the US economy.
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The US has mounted pressure on Brussels during recent talks on the Transatlantic Trade and Investment Partnership, the German newspaper Suddeutsche Zeitung reported.
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According to leaked confidential documents, the EU would have to significantly decrease social, legal and environmental standards to open European markets for US-made products.
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Washington is almost blackmailing the bloc to make concessions, the article read. For instance, the US has threatened to reduce imports of European cars if Brussels rejects to buy more US-made agricultural products.
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What is more, according to the papers, the US plans to abandon the European principle according to which foods are free to sell only if they are safe for people and environment. As a result, genetically modified products and plants would enter the European market, the newspaper reported.
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Nevertheless, the full text of the upcoming agreement between the US and European countries has not been made public yet. The German government has only one printed copy of the document and it is strictly prohibited to make additional copies of the document.
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The agreement would be of colossal importance if signed. It is expected to create a free trade and capital zone accounting for nearly 50 percent of global GDP.
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The sealed-off reading room at the German Economy Ministry opened on January 29, 2016, several years after the talks on the TTIP started. Previously, German officials could read the text at the US Embassy in Berlin. It is obvious that only a small number of European politicians and officials know the details and nuances of the agreement.
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