Intra-EU BITs after Achmea: A Cross-Cutting Issue

In: Nagy, Csongor ed., Investment Arbitration in Central and Eastern Europe: Law and Practice. ISBN: 978-1-78811-516-2. Edward Elgar Publishing. 2019. pp. 1-13.

10 Pages Posted: 3 Dec 2019

Date Written: November 29, 2019

Abstract

In Achmea, the CJEU pronounced an arbitration clause in an intra-EU BIT non-compliant with EU law because it found that it endangered the stability of the EU’s judicial architecture and encroached on EU courts’ privilege to interpret EU law. While the judgment came as a huge surprise, its repercussions and aftermath are still uncertain. It is unclear what the judgment’s holding is, whether it covers arbitration clauses different from the one that reached the CJEU and what impact it will have on investment arbitration in Central Europe. Nonetheless, it is certain that the ruling generated a huge pessimism.

Keywords: BITs, Achmea, Intra-EU BITs, EU rule of law

JEL Classification: K33

Suggested Citation

Nagy, Csongor István, Intra-EU BITs after Achmea: A Cross-Cutting Issue (November 29, 2019). In: Nagy, Csongor ed., Investment Arbitration in Central and Eastern Europe: Law and Practice. ISBN: 978-1-78811-516-2. Edward Elgar Publishing. 2019. pp. 1-13., Available at SSRN: https://ssrn.com/abstract=3495393 or http://dx.doi.org/10.2139/ssrn.3495393

Csongor István Nagy (Contact Author)

University of Szeged - Faculty of Law ( email )

Hungary

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