THE DECIMATION OF THE INTRA EU BITS
Journal Title: Challenges of the knowledge society ( Provocari ale societatii cunoasterii ) - Year 2018, Vol 10, Issue 12
Abstract
The article concentrates on the process which led to the decimation of the intra-EU Bilateral Investment Treaties, due the affirmation of the public policy of European Union which takes precedence over the international obligations arisen for states from Bilateral Investments Treaties (BITs) and other multilateral investment treaties. In a last update on the situation, the Court of Justice of the European Union found on 6th of March 2018 for a first time, by way of providing answers to a preliminary question addressed by German Federal Court of Justice, that the arbitration clause in intra EU BITs is incompatible with the European Law as it provides a mechanism for settling investment disputes which is not capable of ensuring the proper application and full effectiveness of EU law, having an adverse effect on the autonomy of EU law. The effects of the Court of Justice of the European Union decision on 6th of March 2018 are going to be various at national, european and international level from the transformation of the still existing intra EU BITs or multilateral investments treaties, in useless international instruments to changing entirely the investment law system of guarantees and perhaps to engaging the state or EU responsibility for internationally wrongful acts.
Authors and Affiliations
Beatrice Onica JARKA
Keywords
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