The letter below and updated petition was delivered on 20 March 2008 to World Bank President Zoellick and ICSID General Secretary Ana Palacio and to contacts for ETI and their lawyers, Telefonica, Telecom Italia, World Bank external affairs, and the ICSID secretariat. For background information see Global campaign against anti-democratic investment rules
The U.S. and India should not sign a treaty that will only serve the short-term interests of large corporations, and undermine the authority of governments to protect their people from financial crisis.
Between 20 and 21 September 2011, 40 ASEAN campaigners and experts met in Manila to share knowledge and experiences, articulate common strategies and discuss alternatives to the current investment regime.
Bilateral investment treaties (BITs) allow transnational corporations to by-pass domestic courts and sue sovereign states - costing tax payers millions in legal expenses and preventing governments from acting in the best interests of their citizens.
The case of Newmont Mining vs Indonesia is a powerful example of how investment agreements are used by companies to get exemptions from government regulations and legislation, undermining democracy and development.
A small club of international law firms, arbitrators and financial speculators are fuelling an investment arbitration boom that is costing taxpayers billions of dollars and preventing legislation in the public interest.
Civil society organisations meeting in the People’s Social Summit in Lima denounce the recent decision of ETI and Telecom Italia this month to demand that the New York State Court freeze the accounts of the National Telecommunications Company (ENTEL) as part of a strategy of aggression against the government of Bolivia.
Telecom Italia's case against Bolivia at a secretive World Bank tribunal, ICSID, heralds an increasingly pro-corporate approach against southern countries under the aegis of the EU's Global Europe project.