democracynow.org | 19.6.2014
A plan only banksters will love: WikiLeaks reveals trade deal pushing global financial deregulation
The pro-transparency group WikiLeaks has released the secret draft text for the Trade in Services Agreement, TISA, a trade agreement covering 50 countries and more than 68 percent of world trade in service. Until now, the draft has been classified to keep it clandestine not only during the negotiations but also for five years post-enactment. According to the leaked text, TISA aims to cement the extreme deregulatory model of the 1990s by forbidding countries from improving financial regulation. The draft Financial Services Annex would also establish rules favorable to the expansion of financial multinationals into other nations by preventing regulatory obstacles. The draft text comes from the April 2014 negotiation round. We discuss the leaked text with Lori Wallach, director of Public Citizen’s Global Trade Watch and author of "The Rise and Fall of Fast Track Trade Authority."