The End of investment arbitration in Europe
Analysis of the content and effects of the Judgment of the Court of Justice of the European Union of March 6, 2018 in the Achmea case, with special consideration of the Spanish case
Abstract
On January 19th, 2019, the representatives of all the Member States of the European Union signed a letter declaring invalid the Inter Communitary Agreements on Reciprocal Investment Protection, supporting the Judgment of the Court of Justice of the European Union of 26 of March 2018 in the Achmea case, which had announced the incompatibility of the arbitration clause included in the Bilateral Investment Treaty concluded in 1991 between the Kingdom of the Netherlands and the Czech and Slovak Federal Republic with the European Union Law. The 28 States follow the guidelines of the European Commission in its Communication of July 2018, which declared the incompatibility of intra-EU BITs with the European Union law. This paper aims to analyze the content of the aforementioned judgment, as well as its consequence and those of the declaration of the Member States and the Communication of the Commission, with special emphasis on its impact on our country´s investment arbitration.
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References
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