French Trade Minister Calls for TTIP Talks to Cease

France’s trade minister has increased the pressure on the proposed EU-US trade deal by calling for the talks to be called off.

Matthias Fekl, the French minister for foreign trade, tweeted that his government demanded negotiations on the Transatlantic Trade and Investment Partnership (TTIP) should cease.

François Hollande, the French president, also raised doubts about TTIP and said France would not support a deal this year.

In a speech to French ambassadors, Hollande said: “The negotiations are bogged down, positions have not been respected, it’s clearly unbalanced.” He said he would withhold support from any agreement reached before the end of Barack Obama’s presidency in January.

France has been sceptical about TTIP from the start and has threatened to block the deal, arguing the US has offered little in return for concessions made by Europe. All 28 EU member states and the European parliament will have to ratify TTIP before it comes into force.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza