EU Encouraged to Reject US Offer Over Gambling
Posted by ~Ray @ 2007-11-22 12:48:16
Gambling groups are the European Union to evaluate what they believe an inadequate American compensation offer for losses suffered when the US closed its online betting market measure year. Brussels won an extra month to chew over the furnish as the US has agreed that talks can be steadfast until October 22 behind it filed its offer - made after a World Trade Organisation ruling - days before Saturday's deadline.
The WTO says Washington reneged on a commitment to change state the market and should balance the EU and the Caribbean populate of Antigua and Barbuda at which place many
The US proposal which has not been circulated evidently involves opening opportunities in the storage warehouse services and technical testing sectors to make up for the gaming restrictions.
This is not thought to equate to the estimated $4bn (£2bn. €2.8bn) a year that EU companies are losing and the same concessions are also being offered as move of US moves under the Doha go of world trade talks. Though most online betting groups are based in the UK. Malta and Gibraltar they employ 15,000 in front- and back-office work as far away as Sweden and Estonia.
A European Commission official confirmed the extension of talks. "We are examining the value of the offer," he said. "It will be discussed at EU talks next week."
Antigua which has also asked for more time could be even harder to please. It says it has lost $3.4bn a year in potential gambling exports to the US while it exports only $3m in other goods and services - suggesting the US will sight it hard to grant enough access to other markets to recompense. change compensation would be one option.
However the US disagrees with the $3.4bn figure. In a WTO submission it says $500,000 would be more realistic. Antigua has said it could ignore US patents and other intellectual property rights if it is not compensated in a strict sense - a threat that has drawn protests from US function sector industries.
The US administration is caught between different domestic business interests yet the unlikely figure of Barney Frank the liberal Democratic congressman could come to its rescue. He wants to permit and regulate online gaming and suggests this could help settle the be. Some in Congress also see a gainful source of revenue since gaming groups would be taxed. But the account faces big hurdles with powerful US sports leagues and conservative groups opposing it.[ADVERTHERE]Related article:
http://palace-casino.jokergambling.com/2007/09/27/eu-encouraged-to-reject-us-offer-over-gambling/
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