GDAE study on US-EU trade agreement stirs up Europe
A new GDAE analysis of the economic impacts of the proposed Trans-Atlantic Trade and Investment Partnership (TTIP), by GDAE Research Fellow Jeronim Capaldo, has undercut widespread claims of economic benefits for Europe, and at a key point in the negotiations. Capaldo projects net losses and higher instability for Europe as a whole from the proposed US-EU trade agreement. Impacts include a reduction of GDP, the loss of 600,000 jobs, a continuing reduction of the labor share of GDP, and higher risk of financial instability.
The paper, â€œTrans-Atlantic Trade and Investment Partnership: European Disintegration, Unemployment and Instability,â€ quickly drew the attention of European media and was quoted, within two weeks of its October 28 release, by news organizations in Austria, Germany, Denmark, France, Italy, Spain and the United Kingdom. Newspapers quoting the study include The Financial Times, Austrian Die Presse, and Italian La Stampa. The Danish newspaper Information featured it on the front page, and then published an online English translation to expand coverage of the issue. In the United States, the paper was cited in Politico. European colleagues active in the debate on TTIP have translated the executive summary into German, French, Spanish, and Portuguese.