The deal uses the same flawed logic that caused the global financial crisis in 2008

A:

Many of the risk-tolerant rules on financial services that have allowed banks to become too big to fail and fostered shadow banking systems offshore will have to remain, or get worse. Governments will have limited room to move in a financial crisis, including imposing controls on movement of capital into and out of NZ, and major problems taking steps that would prevent a crisis if they contravene the TPPA’s rules. The Agreement also allows financial services companies to use ISDS to sue governments for allegedly breaching their special protections.


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