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The paper states that "as Socialists and Democrats we recognize the opportunities of the agreement. Especially as regards improved access to the US markets for services and public procurement, recognition of technical standards, protection of EU geographical indications and the abolition of US trade restrictions, the EU and its industries and services have clear offensive interests under TTIP."
However, the paper outlines seven "crucial demands" whose fulfillment "will have to be the basis when analysing the final text and when deciding about whether or not our Group can give its consent to the agreement. Our demands focus on the following critical elements:
Hannes Swoboda, president of the Socialists and Democrats Group in the European Parliament, commented:
"There are ridiculous rumours, half-truths and outright lies circulating about the TTIP negotiations. In reality, this trade and investment partnership has huge potential to create jobs and generate growth in Europe. Therefore, we will carry on playing our part in the negotiations, with the red lines that European standards on social and labour rights cannot be undercut.
"The TTIP negotiations are being abused in the European election campaign. Some have already stated they would reject the deal – no matter what is in it – and some will continue supporting it, no matter what is in it. The Socialists and Democrats Group in the European Parliament will push hard for constructive improvements, job creation and opportunities for small and medium enterprises in Europe.
"Only when the negotiations are concluded will we decide whether to vote in favour or against it, based on the content of the agreement.
"For the TTIP to be beneficial, EU standards on employment, consumer protection and food safety must not be compromised. The agreement must include regulation of financial services, as well as provisions to reinforce workers' rights in the US. All provisions will have to be fully compatible with current legislative powers.
"However, the EU needs comprehensive data protection legislation, independent of the TTIP. As we already have advanced judicial systems in both the EU and the US, we oppose the inclusion of Investor-State Dispute Settlement (ISDS). The instrument is far from new and is frequently used within Europe, but it is not the right system for the EU-US relationship.
"The biggest problem is the ridiculous lack of transparency around the negotiations. We demand the publication of all the fundamental documents, including the negotiating mandate. Transparency is the only way to have an informed and rational debate."