The World Trade Organization recently ruled in favor
 December 13, 2007, 10:23 am (11 months ago)The World Trade Organization recently ruled in favor of Antigua and Barbuda, against the US, over allegations that the US’s online gambling policy, which forbids foreign competition for Internet gambling, while permitting domestic interstate bets, are not consistent with WTO’s trade policies.
Both Antigua and Barbuda are set to meet with the WTO today to present their reasons for the $3.4 billion that it seeks in damages. The Caribbean island has stated that the US policy has all but closed down the online gambling industry.
Total compensation after all is said and done is expected to be around $7 Billion. However, the $3.4 Billion that is being sought, is much higher than the GDP of the country.
Mark Mendel, attorney for Antigua and Barbuda, said in an article in the Antigua Sun Newspaper that “It’s a massive number but, after talking to the economists and going through everything, it is a very realistic number.”
The WTO has already agreed that the actions of the US were not in agreement with the current WTO policies, whether they agree to the settlement of $3.4 billion, or award even more, remains to be seen.
Automatic Translation
|
Comments (0)
