The Phaserl


A Torrid Week for the Transatlantic Corporatocracy

from Wolf Street:

A new survey conducted by YouGov for the Bertelsmann Foundation showedthat only 17% of Germans believe the Transatlantic Trade and Investment Partnership (TTIP) is a good thing, down from 55% two years ago.

In the United States, only 18% support the deal compared to 53% in 2014.

Such low popularity ratings are an incredible feat for a trade agreement that until last year the public had barely even heard of, purposefully, even as it had been on the negotiation table for years, while the governments associated with it had expected to pass it with flying colors.

During his visit to Germany at the weekend, President Barack Obama tried to breathe life back into the deal, insisting that “the majority of people still favor trade” and “still recognize, on balance, that it’s a good idea.”

While that may be so, TTIP, like the other alphabet-soup trade agreements, is not really about promoting trade; it’s about reconfiguring the legal apparatus and superstructures that govern national, regional, and global commerce, business and society, for the benefit of the world’s largest multinational corporations.

Obama could not have chosen a worse possible location to plug his sacred trade deal. Offering a quite visible contradiction to his rose-tinted interpretation of corporate-sponsored trade deals, tens of thousands marched against TTIP in the streets of Hanover on Saturday. Opposition to the trade agreement is also fierce among Germany’s Mittelstand (small and medium-size companies), which represent over 90% of firms in the country. A 2014 Commerzbank study found that only 15% of Mittlestand companies believe TTIP would be a good thing for their business.

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