Trans-Pacific deal no good for finance sector

Finsec Campaigns Director Andrew Campbell has spent part of this week as a union observer at the talks for the Trans Pacific Partnership Agreement (TPPA) at Sky City in Auckland.

Campbell said that while the TTPA was being touted as a trade agreement, in reality the TPPA was about giving special rights to foreign investors and companies.  If these negotiations succeed they will create a mega-treaty across 9 countries that will put restrictions on what policies and laws our governments can adopt for the next century – including regulating the financial sector, GM labelling, foreign investment laws, price of medicines, and even NZ content on TV.

“While most countries are strengthening rules around how banks operate, a TPPA could straightjacket New Zealand with the weak rules that saw us labelled the ‘wild west’ in the 1990s and, if Washington’s financial lobbyists have their way, will allow Wall Street to bring down the US economy again,” said Campbell.

Many unions and other community organisations are working together on a campaign against the deal. Check it out at the link below:

http://tppwatch.org/

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