This article examines the potential consequences of the termination
agreement recently signed by 23 EU Member States, which will soon terminate the
existing intra-EU BITs of the signatory Member States. The author concludes
that the retroactive application of the termination agreement to disputes that
have been initiated before this termination agreement enters into force is a
serious violation of the Rule of Law. He also finds that the Facilitator
procedure offered by the termination agreement is not a suitable tool to settle
any ongoing intra-EU BIT disputes. In light of the significant shortcomings in
the judicial legal systems of many EU Member States, the author calls for the
adoption of an EU Investment Protection Regulation as well as the creation of a
European Investment Court. Finally, despite the fact that the termination
agreement is not intended to apply to intra-EU ECT disputes, the author expects
that the fallout of the Achmea judgment will lead to
substantial ‘reforms’ of the ECT in due course. All these developments will
inevitably lead to a lower standard of investment and investor protection
within the EU.