The "tug war" about the inclusion on financial services in TTIP
The United States (US) and the European Union (EU) have the largest financial sectors worldwide and are the main trading partners in financial services. The combined level of bank assets in the US and the EU is about 50% of the world total and so is the combined level of stock market capitalisation. The combined level of debt securities markets in the US and the EU exceeds 60% of the world total. Thus, financial services, which include banking, securities markets, insurance, are an important and controversial issue in the negotiations of the Transatlantic Trade and Investment Partnership (TTIP).