One Hundred Billion Dollars
10/05/2007
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In the dispute between the US and the rest of the world, namely Antigua and the European Union, over the ban implemented, unlawfully, or at least unfairly, as the WTO declared, the US is facing some ludicrous demands for compensation.

At least that's what the US claims. You would probably agree that 100 billion dollar sis an immense sum, practically unimaginable. But that's the sum the EU has come up with for having its casino companies blocked off for US gamblers to visit and bet at.

The US? It claims the right sum, a fair deal, would call for a mere half million dollar compensation deal. It would be comical, if it wasn't so dramatic. If it reminds you of a Hollywood movie, you're not far off. Hollywood, fearing the implications of a failed deal, which will mean their intellectual copyrights be forsaken, is lobbying its government to reach a settlement. The difference to be bridged in 99,999,500,000 dollars.

Antigua's case, though it reached a decision in its favor, is expected to end up in a settlement of a few billion dollars at most, if it goes Antigua's way. The small Caribbean island does not even have a stick to hold and make the US comply in full. But the EU's involvement, with its strong and somewhat nervy demands, may serve Antigua as well, and most significantly, hurt the US.

Will they accept small change and other measures, such as easing off restrictions and tariffs in other sectors? Once the sides sit around the table to talk, we might find that they will. For online casinos are by no means the most important players to protect, as far as the governments are concerned. But what package will amount to equal such enormous sums, is left to be discovered.

In a month or two, the case will return to the WTO. In the meanwhile, it will be followed closely by us.


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