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Reply #3: So did she/will she vote for partial privatization of Peru's Social Security system? [View All]

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antigop Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-09-07 09:26 AM
Response to Original message
3. So did she/will she vote for partial privatization of Peru's Social Security system?
Edited on Fri Nov-09-07 09:58 AM by antigop
Was partial privatization part of the final agreement?

This link talks about the House version -- what was in the final version?

Critics of a U.S. trade deal with Peru say House Democrats are violating their partys principle that social security systems should not be privatized by backing a deal that could lock in a partially privatized system in Peru.

In a letter to House Speaker Nancy Pelosi (D-Calif.), several Peruvian labor groups charged the deal would provide protections for Citigroup to sue Peru under the trade agreements dispute settlement system if a future Peruvian government were to nationalize the countrys partially privatized retirement system.

As a result, the groups, backed by the advocacy group Public Citizen, say the Peru deal should be rejected or at least changed to ensure that Citigroup, which partially owns a company licensed to participate in the Peru retirement system, could not sue Peru for compensation on its expected future earnings if Peru nationalizes its system.

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