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
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: Suggested Citation