FX.co ★ New Year horoscope for TTIP

A new large union may appear on the global economic map in a year. The European Union has been working on preparation of a trading agreement with the United States for a long time. Approval and negotiation of such documents is long and tiresome, but, according to the experts, rewarding process. In case of successful signing of the trading agreement between the continents, the new union may become an 'economic NATO'. As both parties have officially stated, December 2015 is a real data of signing the agreement on the Transatlantic Trade and Investment Partnership (TTIP). The main reason of speeding the process is the U.S. presidential election scheduled in 2016. If the document is not signed in 2015, its signing will be automatically moved to the next year. Even given the most positive scenario, the project has quite a number of opponents. There are people on both of the continents that are rather skeptical about the idea of such cooperation. On the EU territory activists collected 1 million signatures on the petition against the negotiations on TTIP. One million signatures seem almost childish against such a serious matter. However, it is important for democratic EU. According to the Treaty of Lisbon, the European Commission shall not ignore this petition even if the existence of the Transatlantic Trade and Investment Partnership is at stake. Experts note that this step may connect tightly the European Union and the US and cut considerably trading and economic relations with Russia.