As already reported in the AK EUROPA Newsletter, the European Commission has launched a public online consultation in respect of the controversial “Investor-state dispute settlement” (ISDS) within the scope of the Transatlantic Trade and Investment Partnership (TTIP). Privileged right of action for foreign investors and regulatory restriction for states would be the consequence.

The campaign “Politics for People” for lobby transparency at EU level, organised by ALTER-EU, AK & ÖGB and supported by a broad alliance of trade unions and civil society organisations from all over Europe was launched at the beginning of April. The candidates for the European elections were asked to pledge that they, in case they were elected to the European Parliament, would stand up for citizens and democracy and against the excessive lobby influence of banks and big business in Europe!

On 27.3.2014, the European Commission launched an online consultation on the investor protection provisions in the Transatlantic Trade and Investment Partnership TTIP. The Austrian Federal Chamber of Labour (AK) and the Austrian Trade Union Federation respond to the questions defined by the European Commission.

The AK would like to submit comments and suggestions concerning the draft inception report of the Trade Sustainability Impact Assessment (SIA) in respect of the trade and investment agreement between the EU and the US (TTIP).

This week, a Conference on Mobilising Social Policy Innovations, which had been organised by the EU Commission, took place in Brussels, whereby participants particular focussed on the question how one could, based on innovations, contribute to the goal of achieving a higher level of economic and social benefit by adopting social policy reforms.

This week, the EU Commission presented a new global university ranking system, based on which over 850 universities all over the world can be evaluated. This new system provides access to far more indictors than before. Also interesting is the fact that users can compile a personal ranking based on their individual requirements.

Due to broad resistance, in particular by labour representatives, civil society and NGOs, the European Commission has initiated a public consultation on the international investor-state dispute settlement (ISDS). The objective of the consultation is to provide all (EU citizens and organisations) with the opportunity to let the European Commission know their opinion on ISDS.

On Monday, 5 May 2014, 10 EU Member States agreed to implement a Financial Transaction Tax on shares and a small number of derivatives from 2016 at the earliest. However, the adopted model makes a mockery of the fundamental idea of a Financial Transaction Tax. Highly speculative financial products are being left out whilst small investors are asked to pay up.

The enormous influence and destructive power of financial markets became apparent with the global economic collapse of 2008 which fuelled a financial crisis from which Europe has yet to recover. These events revealed the dire need for stronger rules on financial markets.

The different concepts of Eurobonds - hence joint borrowing by states of the Eurozone - were associated with the hope of leaving the debt crisis behind and to meet the mighty financial markets as a unified Eurozone. An Expert Group of the Commission chaired by Gertrude Tumpel-Gugerell has now reached the sobering conclusion that the discussed concepts can hardly be implemented without lengthy treaty changes.