THE DECIMATION OF THE INTRA EU BITS
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 o...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
Nicolae Titulescu University Publishing House
2018-05-01
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| Series: | Challenges of the Knowledge Society |
| Subjects: | |
| Online Access: | http://cks.univnt.ro/uploads/cks_2018_articles/index.php?dir=3_public_law%2F&download=CKS_2018_public_law_021.pdf |
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| Summary: | 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. |
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| ISSN: | 2068-7796 2068-7796 |