It sounds like a great deal: more jobs, more money, but Europe is skeptical toward the TTIP: why?
President Obama is reported to have pushed, during his last visit in Germany, for a quick adoption of the Transatlantic Trade and Investment Partnership (TTIP), which he hopes to secure before leaving office in January 2017.
It should boost economies.
The TTIP aims at creating the biggest trade area in the world, by removing commercial barriers between the United States and the European Union. On paper, it should boost both economies and revive the job market, strained by the recent crisis. However, many European countries, among which United Kingdom, France, Greece, and Germany are not as enthusiastic as Obama about signing the agreement, which to enter into force needs to be ratified by all the 28 EU Member States.
The European civil society has reacted and many manifestations, protests, and petitions have been organized across the EU asking to stop the negotiations. And still, according to the estimate, the TTIP should bring annually € 119 billion into the economy: are we so wealthy to nonchalantly refuse so much money? Not quite. So what’s wrong in our European eyes with this agreement?