The future of investment arbitration in the international agreements concluded by the European Union

Abstract

The paper reflects on the criticisms put forward after the inclusion of investment arbitration in the international agreements negotiated by the European Union with third parties, with special reference to CETA and TTIP. It studies the discussions held at European level with regard to the need to maintain such a special mechanism for the settlement of investment disputes and, in particular, it examines the Spanish parliamentary practice. Finally, it explores several legal problems arising from the eventual exclusion of investment arbitration from future international agreements concluded by the European Union as well as to the effects of “Brexit” in the European conventional policy.