Nagy, Csongor Istvan --- "INTRODUCTION: INTRA-EU BITS AFTER ACHMEA - A CROSS-CUTTING ISSUE" [2019] ELECD 2736; in Nagy, Csongor (ed), "Investment Arbitration in Central and Eastern Europe" (Edward Elgar Publishing, 2019) 1

Book Title: Investment Arbitration in Central and Eastern Europe

Editor(s): Nagy, Csongor

Publisher: Edward Elgar Publishing

Section Title: INTRODUCTION: INTRA-EU BITS AFTER ACHMEA – A CROSS-CUTTING ISSUE

Author(s): Nagy, Csongor István

Number of pages: 13

Extract:

INTRODUCTION: INTRA-EU BITS AFTER
ACHMEA ­ A CROSS-CUTTING ISSUE
Csongor István Nagy



A. INTRA-EU BITS: A TRULY CENTRAL 2. The arbitral practice: theme and
EUROPEAN ISSUE 0.02 variations for a holding-analysis 0.16
3. The political analysis 0.22
B. WHAT IS THE IMPACT OF THE ACHMEA
RULING? 0.05 C. WHAT REMAINS OF INTRA-EU BITS
1. The legal analysis: what is the AFTER ACHMEA? 0.27
holding? 0.05




Due to its immense practical importance, no volume on investment arbitration 0.01
in Central Europe may avoid addressing the most significant recent develop-
ment concerning the region: intra-EU BITs after the CJEU's ruling in
Achmea.1 In this case, the Court pronounced an arbitration clause in an
intra-EU BIT non-compliant with EU law because it found that it endan-
gered the stability of the EU's judicial architecture and encroached on EU
courts' privilege to interpret EU law.2 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.3 Nonetheless, it is certain that the ruling
generated a huge pessimism.




1 Case C-284/16 Slovakia v. Achmea BV [2008] ECLI:EU:C:2018:158.
2 For the ruling's resonance in the scholarship, see e.g. Csongor Istvá ...