The WTO's General Agreement on Trade in Services (the "GATS") has very much underpinned expansion without regulation and supervision, so the financial corporations had the guarantee that their expansion would be underpinned. But financial services are not the same as other services – they need special supervisory structures.
The international free trade and investment policies and the related WTO agreements played a major role in undermining so many developing countries' economies. The proponents of tese policies, including the EU, are now urging the govenrments of the world to end their resistance to such policies within the WTO.
Susan George appeared on the major French radio network France Inter to debate the financial crisis and regulation. Her most recent book "Their Crises, Our Solutions" has been published in French ("Leurs Crises, Nos Solutions"); the English version is due to be published in September.
"The banks are ours!" Public money was used to bail out the banks, and now they are lending back to the public at interest, while governments ignore the social and environmental crises that confront society. It is time to demand real solutions that will work not only for the sake of the economy but for the lives and conditions of people on whom it depends.
EU and US are currently negotiating a trade and investment agreement. How will this deal affect people from both regions and around the world? See reflections from EU and US activists who gathered to discuss about the impacts and possible solutions.
A debate about the impacts of the Investor to States Disputes Settlement on the environment, between representatives from the European Commission and Civil Society Organizations from Europe, US and Canada was held in Brussels during the last negotiations round of the Transatlantic Trade and Investment Partnership