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GUE/NGL Press conference: TTIP: Benefits & Costs. 5 March 10.30

First presentation at the European Parliament of the Capaldo report (Tufts University)

“TTIP: European Disintegration, Unemployment and Instability”

–  Gabi Zimmer, President of GUE/NGL

–  Jeronim Capaldo, Tufts University 

–  Helmut Scholz, shadow rapporteur on TTIP (INTA)

–  Lola Sanchez Caldentey, shadow rapporteur TTIP (DEVE)

For live streaming, click here

In October 2014, Mr. Jeronim Capaldo, researcher at Tufts University, issued a report “TTIP: European Disintegration, Unemployment and Instability” that questions -as other major economists have done before-,  the impact assessment presented by the European Commission and its contractors, for using a methodology developed by the World Bank –  (Computable General Equilibrium) – that has proved to be disastrous in previous cases (mainly in Latin America for liberalisation in the '80s and '90s).

Applying another methodology, (the UN Nations Global Policy Model), the results obtained by Mr Capaldo on the possible impact of the TTIP are very different from those announced by the Commission: Losses in terms of next exports for the EU; net losses in terms of GDP, especially for Northern European countries; loss of labour income and massive job losses (around 600.000); reduction of the labour share; loss of government revenue and adverse consequences for third countries.  All of this, combined with the well-known institutional weakness of the EU, would result in a major destabilization of the EU.

The GUE/NGL group has expressed deep concern at the lack of transparency of the negotiations, but also on the lack of real debate on the possible positive and negative impacts of this Transatlantic market place for European citizens.

That's why GUE/NGL has invited Mr. Jeronim Capaldo to present his report to the press, and to debate it during a public workshop organised by the GUE/NGL with the participation, among other speakers, of Mr Lucien Cernat, DG Trade's Chief Economist.

Thursday 05 March 2015, 10.30

Press Room – EP – PHS 0A50.

Gianfranco Battistini

GUE/NGL press contact + 32 475 646628

[email protected]