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"Biden Cuts Social Security" (The Intercept) Actually, its the GATS agreement we signed more than two decades ago, and the TISA that they probably will revive soon that do it. Medicare is likely to get the same treatment too. See elsewhere on this site.

The Intercept (the destination of the link) doesn't mention this but GATS (and TISA, which is likely to be revived) makes all deregulation in committed services (like financial services) permanent (Yes, both are considered to be in competition with the banking and insurance industries - financial services) Making cuts so costly and difficult to reverse they will become permanent. This has been planned for a long time as shown by the trade literature. here is lots on this site. Voters should refuse to swallow this rigged Kool Aid. Oh, but everything that happens in the WTO is not subject to voting.

Urgent-Biden and Trump's Medicare and Social-Security traps for the unwary -proof below

NOTE: WORK IN PROGRESS, please forgive the state of this document, its still being edited and has redundant information! BUT its important, and verifiable fact. URGENT: Both US Presidential candidates have plans to make changes to our current Medicare and Social Security systems that WILL DESTROY THEM . Also commitments we made in the 1990s have put many tens of millions of our best and future jobs in jeopardy. And most deregulatory changes by either party lock in and cant be repealed. Many changes lock in. A little known trade agreement "GATS" literally dooms them unless we leave it immediately.

Interpreting the General Agreement on Trade in Services and the WTO Instruments Relevant to the International Trade of Financial Services: The Lawyer's Perspective

25 N.C. J. Int'l L. & Com. Reg.1 (1999). by J. S. Jarreau, This is a very good essay on the GATS financial services provisions, especially their history and where they sit in the general GATS and WTO millieu. These additions to the GATS are of extreme relevance to anybody hoping to bring about any of the changes which US progressives want, which unfortunately have been locked down by the GATS, without the nation's ever having been informed. So if you are interested in those areas, "single pauer" (a tierless, national universal healthcare system, which is really the only way to gain sustainable universal healthcare within the GATS, - This requires we withdraw/modify relevant commitments via Article XXI) Also, banking, expansion of student loans, and loan forgiveness, free college, etc. Many things conflict with the new constraints GATS created.

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."

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.. Especially see: 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

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!

“That’s All They’ve Got?” (PCGTW 2010) "What Latest WTO Secretariat Paper on Financial Crisis Does and Does Not Say About GATS Disciplines on Financial Regulation"

March 15, 2010 by Todd Tucker and Public Citizen Global Trade Watch: "On February 3, the WTO issued a document that many in Geneva call the “non-response” to over a year of growing questions from WTO member countries and others about the connection between the rules of the General Agreement on Trade in Services (GATS) on financial services and the global economic crisis. 1 Indeed, this was the Secretariat’s first major study 2 in nearly 12 years about the WTO’s financial service rules. 3 The new paper is a disappointment to anyone hoping for a convincing rebuttal to charges that the WTO’s General Agreement on Trade in Services (GATS) promotes financial services deregulation...

Whistleblowing in a Foreign Key: The Consistency of Ethics Regulation Under Sarbanes-Oxley with the WTO Gats Provisions

By Stewart M. Young - United States Attorney's Office - District of Utah Abstract This Article discusses the consistency of the legal regime established by the Sarbanes-Oxley Act, and the ethical regulations proposed by the SEC, in relation to the legal services portion of the World Trade Organization's (WTO) General Agreement on Trades in Services (GATS). It discusses the GATS and its effect on the legal services market in general. It then examines how the ethics commitments in the United States Schedule of Commitments to GATS are treated. It examines the new ethical responsibility requirements imposed by the Sarbanes-Oxley Act and the subsequent proposals by the SEC. It concludes by demonstrating that the ethical requirements imposed by the Sarbanes-Oxley Act and the SEC are not consistent with the United States' obligations under GATS regarding legal services. This Article also discusses possible approaches to reconciling the proposed rules with GATS and action that might be taken by WTO member countries, including under the dispute resolution provisions of the WTO agreements. The ultimate conclusion of this Article is that the SEC-proposed standards as applied to nondomestic law firms are potentially irreconcilable with GATS, and likely to create friction between the United States and a number of our trading partners. The most important purpose of this Article is to analyze the inconsistency of the Sarbanes-Oxley Act and the proposed SEC rules with GATS. Second, this Article can be read as a case study for the domestic imposition of ethical standards on the trade in services and legal services field in general. Third, this Article will potentially add fuel to the fire for implementing international ethical standards in certain global service industries, including the legal services field in particular. Keywords: Sarbanes-Oxley, SEC, World Trade Organization, WTO, General Agreement on Trade in Services, GATS, ethics regulation

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.)

The Potential Impact of the World Trade Organization's General Agreement on Trade in Services on Health System Reform and Regulation in the United States. (2009)

This paper is perhaps one of the best introductions to the GATS and healthcare issue for Americans on this site. In this 2009 paper, the late Nicholas Skala, explains the "GATS" agreement, and its implications for US healthcare reform and why we urgently need to apply for and pursue a specific procedure (Article XXI) to withdraw from the GATS in order to avoid built in traps for the unwary, for example, to get sustainable public health care. If you only read a few papers on GATS on this site, make sure this is one and also read the materials on GATS Article I:3 and 'governmental authority exclusion" keyword. Also see "explainer" tagged items.

Lori Wallach discusses 'standstill' in this short video on Democracy Now

Note: THIS ALSO APPLIES TO TODAY'S US HEALTH INSURANCE, because it is a financial service, and Please also read the glossary entry for "negative list" because the two are functionallly the same, a freeze on any new regulation. So blocking any new public services and locking in any and all privatization, etc, of existing ones. TISA will do that and its standstill dates will go back to tthe 1990s, so its ceiling will likely leave new regulations like the ACA, out. The status quo for health insurance in 1998 was very bad.