Agreement for the Termination of the Intra-EU bit s

Abstract

While the agreement for the termination of the intra-European Union (EU) bilateral investment treaties (bit s) is moving the intricate question of intra-EU investment arbitration closer to solution, the retroactive effects of the agreement may prove problematic from the viewpoint of international law. It is argued in the article that the underlying reason for this is the different understandings under the EU law perspective and the international law perspective on whether the intra-EU bit s have been inapplicable in the light of international treaty law. Furthermore, the article discusses the proceedings regarding intra-EU awards in national courts in the aftermath of the termination agreement, concluding that there is notable uncertainty looming over the faith of the awards. Finally, an overview is taken on the termination of the bit s in the Member States, which did not sign the termination agreement, discussing the possible consequences of the opt-out.