Panellists at a trade forum criticised the US government for going back on commitments made to the World Trade Organisation (WTO) in regards to internet gaming. The forum believes that the US could be liable for up to $100 billion in trade concessions to European industries after placing illegal discriminatory trade restrictions on European gaming operators.
Earlier this year, the WTO ruled that the US violated its treaty obligations by excluding online Antiguan gaming operators, while allowing domestic operators to offer various forms of online gaming. The Bush administration decided to withdraw the gambling industry from its free trade commitments and now all 151 WTO members are considering seeking compensation, equal to the size of the entire US land-based and online gaming market, estimated at nearly $100 billion. The European Union, along with India and five other countries, has filed notice that it intends to seek compensation.
News source: vnunet
Earlier this year, the WTO ruled that the US violated its treaty obligations by excluding online Antiguan gaming operators, while allowing domestic operators to offer various forms of online gaming. The Bush administration decided to withdraw the gambling industry from its free trade commitments and now all 151 WTO members are considering seeking compensation, equal to the size of the entire US land-based and online gaming market, estimated at nearly $100 billion. The European Union, along with India and five other countries, has filed notice that it intends to seek compensation.
News source: vnunet
U.S...keep giving to europeans,keep giving
U.S...keep giving to europeans,keep giving
The WTO is not Europe.
But Europe is Europe.
But Europe is Europe.
The European Union, along with India and five other countries
all 151 WTO members are considering seeking compensation
seems to be the rest of the world not just europe
So its not just Europe btw
Every country hate USA (including USA himself) but Antarctica.
Every country hate USA (including USA himself) but Antarctica.
antarctica isn't a country it is owned by many differnet countries, most of it being owned by australia. so yeah antarctica is also included
i thnk it's more the rest of the world hates american totalitarianism (the term seems to fit too damn well nowdays), free country my ass
Yet any country will take a US Bond investment in a heartbeat.
Yet any country will take a US Bond investment in a heartbeat.
and what do you think its a Bond?
oh right DEBT!
Yet any country will take a US Bond investment in a heartbeat.
and what do you think its a Bond?
oh right DEBT!
:rofl:
:rofl:
i'd vote for her
Loan is where you give out money but expect payment with interest.
Borrow is when you get money but have to pay it back with interest.
Tiny little difference, eh?
Ron Paul is the only hope.
1. To the WTO member nations that permit online wagering, they see the US prohibition, despite its long standing, as being protectionist in nature (protecting the physical casinos, racetracks, sportsbooks, etc. from online competition).
2. The leading company in the online-gaming arena merely supplies the back-room hardware and software that helps the online games run. That company has an even greater marketshare in terms of online gaming than Microsoft does in terms of desktop Web browsers. That company is WagerWorks (http://www.wagerworks.com), a subsidiary of US-based slot/sportsbook behemoth IGT (http://www.igt.com).
3. Unlike the United States, the other WTO member nations don't have individual states competing with each other in terms of gaming; instead, the competition is nation vs. nation.
4. The micro-economies are using two areas to increase their economic base beyond tourism: international banking, and international gaming. They see the United States, despite the casinos and horse tracks, as a vast untapped market for online wagering (considering the numbers on illegal gaming in the United States alone, that point has validity). The last major nation that had roadblocked online wagering was the UK, and they got worn down by the EU member nations prior to their signing the Treaty of Maastricht. The United States is likely a larger market than the entire EU put together, and they want access to that market.
5. To add insult to injury, those same physical casinos and horse tracks (not just the Atlantic City and Las Vegas casinos, but even the Indian gaming parlors in Florida and New England and the Midwest) have been getting a major share of European tourist dollars. Now that the dollar is taking a bath, they would love the increased influx of dollars into their national coffers (in terms of taxes collected on online wagers).
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