Sabine Stephan

Is TTIP a Growth and Employment Engine for Southern Europe?

  • Abstract

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It is not a coincidence that the European Union and the United States of America currently negotiate an ambitious free trade agreement. Seven years after the outbreak of the financial crises that led to the deepest crisis of the global economy since the 1930s, numerous EU countries - and the Southern European crisis countries in particular - are still suffering from the drastic consequences of the global economic crisis. The fact that they are unable to stimulate their economies by their own efforts due to strict austerity policies gives added weight to the claim that TTIP will generate considerable growth and employment opportunities for the countries involved. This claim is typically backed up with findings taken from "independent" studies. A closer look at the findings of two influential studies that present projections at the country level however reveals that even in the event of a comprehensive free trade agreement being signed, the anticipated effects on growth and employment in Greece, Portugal, Spain and Italy are minuscule.

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