The EU and the U.S.A aim to reach a trade agreement in 2015 and will exclude financial services, as agreed by the senior officials, negotiators of both parties will try to lead to an agreement by the end of 2015. We do not see the need to represent the financial services division of TTIP, said the U.S. Ambassador to Antoni Gardner in EU Trade Commissioner De Gucht at a conference (European Business Summit) held a few days ago in Brussels. The U.S. Treasury has been very clear on this issue and I do not see many chances to change its position, he added.
This movement was a disappointment for De Gucht, who had asked to provide financial services as part of the deal just a few minutes earlier, but this is not surprising, says the report. The Americans, are still reluctant to put their financial services to the negotiating table on the basis that the EU financial legislation is less strict than the so called “Dodd-Frank” bill adopted in 2010 to address the financial crisis of 2008.
It is the first policy issue that is excluded from the discussion of the Americans. The EU for its part has already made it clear that the audiovisual and culture issues can not be part of the discussions, after the insistence of the French government. De Gucht at the hearing complained also that the TTIP has become a victim of the electoral campaign for the European elections.
This debate has been involved with the European election campaign. Part of the Left, the Greens and the extreme left face the Agreement of TTIP as something that must be defeated, he said. The U.S. ambassador agreed with De Gucht that negotiators will need to be completed on a deal until the end of 2015, despite the controversy. The fifth round of conversations on the agreement of TTIP will be held next week.
By Nicole P.