Oh Snap!

The Parliament for the Belgian province of Wallonia and Romania will not approve the EU-Canada trade deal.

The government of the French-speaking Belgian region of Wallonia has refused to ratify the EU-Canada free trade agreement approved by the Belgian cabinet, the region's minister-president said.

"As long as we do not have all the guarantees…. it will be impossible for us to ratify such a text [the Comprehensive Economic and Trade Agreement (CETA)], and it is not possible to give full powers to the Minister of Foreign Affairs to sign it either," Paul Magnette was quoted by the RBTF broadcaster as saying late on Wednesday.

The opponents draw a parallel between CETA and the US-EU Transatlantic Trade and Investment Partnership (TTIP), which has been criticized for the lack of transparency in the negotiations and the power it would give to international corporations at the expense of small and medium-sized businesses.

The guarantees appear to deal primarily with the Investor State Dispute Settlement system, while Romania is upset that it does not have visa free travel to Canada, and the lack of support on this matter from its EU partners:

Romania will not ratify the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada which was concluded in 2014, as an angry reaction to the refusal by Ottawa to lift the visa requirement of its nationals, but also for the lack of EU solidarity for solving the issue.

The Romanian Ministry of Foreign Affairs has published a position regarding Canada maintaining the visa requirement for Romanian citizens, expressing disappointment that Ottawa had not delivered on its promise to solve the issue, contained in the Statement of the 2014 EU-Canada summit.

Canada has a visa-free regime with all EU countries except Romania and Bulgaria.

These deals no longer being a sure thing is good.

Tariff barriers are minimal now, and these deals are really about giving rent seekers like Pharma, Music, Film, and Finance an opportunity for increased profits.

The secondary goal is to create a regime where profit trumps government power and the will of the people.

Shutting this down shutting this down is a very good thing.