As public debt soars, a new wave of sovereign defaults looms. International law on sovereign defaults is underdeveloped because States have largely refrained from adjudicating disputes arising out of public debt. The looming new wave of sovereign defaults is likely to shift dispute resolution...

During and in the aftermath of the euro area sovereign debt crisis, many considered a common safe asset as a necessary condition for a stable European monetary union (EMU). However, intellectual efforts had far outstripped tangible policy action, until the pandemic turned the political debate...

This book offers a collaborative account of the profound impact and enduring questions surrounding the historic event known as Brexit, i.e. the United Kingdom’s decision to terminate its membership in the European Union in 2020. The book is a collection of thought-provoking contributions...

As a hybrid provision, the much-discussed withdrawal provision in Article 50 of the TEU is part of European Union law yet also anchored in public international law. Due to this anchoring of EU law, the UK's withdrawal raises important questions of public international law that are the focus of...

The UK has made major contributions to the development of investor-state dispute settlement from 1920-2020. This essay shows that the UK contributed in three ways (1) law-making, both before and after the launch of its investment treaty programme in the early 1970s; (2) dispute settlement –...

Investment treaties are some of the most controversial yet least understood instruments of global economic governance. Public interest in international investment arbitration is growing, and some developed and developing countries are beginning to revisit their investment treaty policies. The...

This chapter argues that current international financial law is largely toothless and dangerously underdeveloped. The sea change in international finance since 1990 seems to have bypassed the public international law of finance and international financial lawyers. Despite dazzling growth in...

In light of proposals for Eurobonds, this article explores central legal features of the Eurobond proposals. Section I focuses on the development of the law governing sovereign bonds and assesses the potential, but limited role of international law to Eurobonds. Section II considers the equal...

The financial crisis that started in 2008 is spreading from the private to the public sector. The migration from private to public balance sheets, and vice versa, is a familiar story in the history of international finance. The most prominent channel linking sovereign and private sector balance...

The present international financial architecture (IFA) has been weakening since the early 2010s. Several factors have hindered the reorganization of the current IFA, accelerated the bipolarization of international financial relations, and reshaped the balance of power between sovereign debtors...