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Dr Dennis Novy discusses the travails of TTIP on BBC The World Tonight

Dennis NovyDr Dennis Novy Associate Professor of Economics discusses the Transatlantic Trade & Investment Partnership (TTIP) on BBC Radio 4's The World Tonight.

Dr Novy acted as Specialist Adviser to the House of Lords on the Transatlantic Trade and Investment Partnership (TTIP), 2013/14.

"The TTIP is a trade agreement between the European Union and the United States. It is supposed to make it easier for these parties to trade and invest.

"Initially the negotiations were supposed to be finished very quickly - on one tank of gas - as the Americans said at the time.

"That tank seems already empty, it would have been very unusual for such a deal to be made, agreed and ratified in just 2 or 3 years. Historically such deals can take 6 or 7 years.

"In principle this trade agreement is not that different from EU trade agreements with other countries like Mexico or South Korea. It's goal is to make trade easy. However these deals always end up giving up some of your 'soveriegnty' since regulation must be agreed on both sides.

"In many fields this can involve increased regulations. In this case the EU is not used to negotiating with parties who are equally powerful, such as the United States."

Listen again here at 28 minutes in:


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