World News Tomorrow – CETA Treaty
Paul Magnette, head of the Belgian region of Wallonia, has refused to sign off on CETA sending a serious disappointed Christia Freedland back home to Canada empty handed.
CETA is the Canadian equivalent of TTIP. Both treaties represent some serious benefits like ease of doing business and new trade opportunities.
Both treaties have also caused worries to many organizations and people throughout Europe. One of the main concerns being that both treaties will affect Europe’s main precotional measures to bann food off their markets coming from Canada and/or US as a result of substances or treatments that may be harmful to health.
With 28 member states supporting the CETA treaty nothing seemed standing in its way. But Belgium could not give its apporval due to the fact not its 5 sub-federal administrations did not all vote in favour.
Wallonia, the French speaking part of Belgium feared the treaty will also affect it’s rural way of life and allow for big multinationals to crush its businesses.
This display shows in fact a serious weakness in Europe’s system where a local sub-federal state can seriously influence treaty’s beneficial for the entire EU. This is according to Christoph Leitl of the business alliance Global Chamber “crazy!”.
The blocking of this treaty might also affect the TTIP treaty negociations which on its turn might even create a business trade vacuum for Europe.
By Editor in Chief