(Reuters) – Germany is to reject a multi-billion free trade deal between the European Union and Canada which is widely seen as a template for a bigger agreement with the United States, a leading German paper reported on Saturday.
Citing diplomats in Brussels, the Sueddeutsche Zeitung reported that Berlin objects to clauses outlining the legal protection offered to firms investing in the 28-member bloc. Critics say they could allow investors to stop or reverse laws.
The German government could not sign the agreement with Canada “as it has been negotiated now,” reported the paper quoting German diplomats in Brussels.
It also said that the clauses in the Canada deal were similar to those in the U.S. agreement which is still under negotiation.
“The free trade treaty with Canada is a test for the agreement with the United States,” said one senior official at the Commission in Brussels, according to the paper.
If the deal with Canada is rejected “then the one with the United States is also dead,” added the official…
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Who needs free trade! It is is a suspicious Anglo-Saxon capitalist obsession anyway.
The EU is much more concerned with free movement of individuals, even if they arriving illegally on boats from North Africa. Multikulti is the important thing.