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Liberalisation of Financial Services - by Stephen Woolcock

"Negotiations on a permanent agreement on financial services in the GATS are scheduled to be completed by mid December 1997. The prospects of success this year are better than in previous attempts in 1993 and 1995, but there is still much to do in a short time and still much work to be done. The current negotiations are shaped by compromises made during the Uruguay Round negotiations in order to get both developing country and US support for the approach adopted in the GATS. These compromises mean that there is no internal, liberalising dynamic in the negotiations. For the negotiations to succeed it is therefore necessary for all the key participants, which in the case of financial services effectively means some 30 WTO Members, to show the political will needed. "

GATS and Financial Services: Redefining Borders

"The First Annex brings financial services into the GATS definition of trade in services. Services conducted by a governmental authority, including central bank functions, statutory schemes for social security and retirement funds, and other government activities are excluded from the definition of services provided that such government does not permit private sector competition in the relevant area.' Members are permitted to retain a "prudential carve-out." That is, measures created for prudential reasons such as the protection of either depositors or financial system integrity are permitted so long as such measures are not designed to defeat the commitments under GATS. As with NAFTA, the prudential carve-out may have important implications: it will be the basis to defend virtually all actions in the financial services sector that are the subject of a dispute."

Like with healthcare, Brexit's influence on higher education and public colleges and universities in the UK is quite uncertain at best, because of an intentionally ambiguous WTO definition of what can be considered "public".

See the "governmental authority exclusion", "GATS Article I:3" and "Annex on Financial Services" keywords for more on this huge gotcha which also blocks proposals for free college and Medicare for All in the US (and threatens to dismantle the US's Medicare and Social Security unless they remain restricted to the retired only). How will these changes impact social mobility in the UK?

International Approach to Liberalisation of Trade in Financial Services - doctoral thesis on Financial Services Regulation

This is a high quality, law book by Professor Bart De Meester. whose writing style is very readable on trade deals regulation of financial services- especially banking, very relevant to the mess we find ourselves in today.. INTERNATIONAL APPROACH TO LIBERALISATION OF TRADE IN BANKING SERVICES see CHAPTER III.2 LIMITATIONS ON THE RIGHT OF WTO MEMBERS TO REGULATE THE BANKING SECTOR

Analysis of TISA's Annex on Financial Services

By Jane Kelsey - This is an excellent analysis of the aims of this far reaching and anti-democratic "agreement" that *nobody* would agree with. It is nothing less than a global coup that lowers global standards to a least common denominator, shredding professional standards, accountability and expectations of fairness in financial services, and lowering wages and working conditions. Note: Don't confuse this Annex with GATS' Annex on Financial Services.

The Interaction between European and International Liberalisation of International Trade in Banking Services

by Bart De Meester - This is a doctoral thesis, a quite substantial tome, written like a textbook, on banking and the WTO, its particularly useful it seems because the areas I am interested in have gotten examination in the European context - here in the US where the GATS is not well known to put it mildly, perhaps not so much, at least I have not found much. Plus I cant afford to go out buying books on the subject, as they are expensive, really expensive. Anyway, this looks very informative and its quite understandable as these kinds of books go. I'm sure Mr. De Meester will do very well. Thank you!

Medicaid Expansion in Health Reform Not Likely to “Crowd Out” Private Insurance

"Contrary to claims by some critics, the Medicaid expansion in the new health reform law will overwhelmingly provide coverage to people who otherwise would be uninsured, rather than shift people who already have private coverage to Medicaid." --- comment: This concept of "crowd-out" was literally created by the GATS and it's concept of minimal trade restrictiveness which requires that all government-subsidized measures be the most minimal possible - as well as possibly time limited, for example, only available to either an individual for only a few years, or possibly a country - for only a short period, perhaps a decade or less, (or perhaps only if they are and remain an LDC) . In this case, Medicaid is kind of a loan, not an insurance program, as it is subject to repayment, and only available to the destitute, and near destitute with assets that will only become available at their deaths, such as a home - after their other options have been used up. This "prevents healthcare prices from falling", and "preserves the profit in selling insurance", and "the value of the insurance companies investment". These are the most important things in a for-profit healthcare system. Especially as it becomes "The one bright spot in a dismal economy"

The real cause of Bernie Sanders' problems with the DNC (and America's healthcare mess!)

Basically, 2/3 of Bernie's much-needed platform, as well as the self-stated agendas of (all?) other politicians, to a large extent are potentially blocked by trade agreements that (the leaderships of both) US parties have been cooperating in hiding! They represent a huge betrayal of the American people by both parties. And the reasons for this are complicated and urgently need the nation's attention, or else the policy trap could become so costly to reverse it could become permanent, at a cost of as much as 41% or more of the nations jobs according to a Harvard study. (the agreements also potentially trade away service jobs, basically the 80% of the economy that isn't manufacturing.)

GATS Annex on Financial Services

This document potentially endangers the US's Social Security, Medicare and other safety net programs if they are partially privatized and compete with commercial entities. It is part of the GATS and its explained well by Patricia Arnold in her essay on GATS and Financial Regulation (Public Citizen). It contains a slightly different definition of 'services supplied as an exercise of governmental authority' than GATS Article 1:3 does, which applies in certain situations. To understand it you should also read Nicholas Skala's 2009 paper in the International Journal of Health Services and the Understanding on Commitments in Financial Services. You can also find a bit more material online if you search on the phrase "Fu Lung" or "Fu Lung Group" in the context of financial services+WTO or the Uruguay Round. It seems an effort is made to make information on FTAS difficult to find for outsiders.

GATS and Financial Services Deregulation by Patricia Arnold

Medicare, Social Security and other governmentally subsidized financial services are put in grave danger by the GATS - This paper by a noted professor in accounting who has written a great deal of highly readable material on the WTO and its interaction with financial regulation is a short and concise intro to many of the major issues, particularly the threats GATS poses to Social Security and Medicare if those areas are allowed to compete with commercial banks or insurers. Caution is needed because millions could see huge changes in their only retirement benefits just as they were needed the most if Social Security and/or Medicare lose their protection from GATS rules, which is likely if current proposals are implemented,- see the Annex on Financial Services.