This paper examines the impact of international law on the ability of states to mitigate the effects of financial crises. It takes as its subject the invocation of investment treaty disciplines in the aftermath of the 2001-2 Argentine financial crisis. The paper focuses on the adjudication by...

This comment on Alan Sykes Article "Economic 'Necessity' in International Law" on AJIL UNBOUND discusses the application of necessity clauses from an economic perspective especially in light of the incentives of investors, who are the third party beneficiaries of the investment treaty/contract....