I think it could have quite a serious negative impact in Canada—if it is eventually put fully into place...it won't be provisionally applied. There's still quite strong concern about it in Europe, and each member state has to ratify it.
Having said that, to expand the system under which we've been so attacked under NAFTA I think is quite unwise. European investors are very active users of ISDS. In fact, over half of all the cases that have ever been brought under ISDS provisions in all the treaties, including bilaterals, have been brought by European investors. Last year, of the top ten home countries for investors, seven were members of the European Union. If this system comes in place, we can expect to see an intensification of the kinds of lawsuits we've seen under NAFTA against non-discriminatory public interest regulation—like the environmental assessment in the Digby Neck quarry, or the moratorium on offshore wind farms in Ontario, the Windstream case, both of which we lost very recently.