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HuffPost: Brexit and the high costs of promises

Politics and International Relations 6 September 2017

Ioannis Glinavos head shot

Dr Ioannis Glinavos, Senior Lecturer in Law at the University of Westminster, wrote a blog for the HuffPost, asserting that if the United Kingdom makes giving assurances the main way of dealing with the uncertainties of Brexit, it may soon be facing lawsuit.

Dr Glinavos says that a key question in the post-Brexit legal situation is whether foreign investors feeling mistreated by Britain’s decision to leave the EU will have the right to bring a claim in an investor state dispute settlement (ISDS) tribunal.

He then points to Spain as an example of a developed economy which has faced an avalanche of ISDS claims, where investors claim that, amongst other violations, Spain did not afford them fair and equitable treatment as required by its treaty obligations.

Concluding the blog, Dr Glinavos wrote: “Brexit will most likely result in London becoming a much different business proposition. London can no longer be the gateway to European finance, as it is projected to lose its place in the single market. London can no longer guarantee access to one of the world’s biggest consumer markets.”

Read the whole blog post on the HuffPost website.


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