Publications

For decades, BITs have been the primary tool for promoting and protecting international investments. However, with the Treaty of Lisbon, the European Union was granted express competence over foreign direct investments, creating a conflict between EU law and the BITs concluded by Member States with third countries (extra-EU BITs) and, more significantly, among themselves (intra-EU BITs).

The first part of this monograph explores the origins and evolution of BITs, setting them within the broader framework of a globalized world—one in which regional and macro-regional agreements now also play a key role. The second part examines the fragmented nature of the European Community’s competence in this area before Lisbon and how it evolved within the Union after the treaty. It then analyzes the tensions between BITs (as well as the Energy Charter Treaty) and EU law, identifying the key pillars of modern European investment policy.