Jonathan Hill, EU Commissioner for Financial Services, Financial Stability and Capital Markets Union said: “Intra EU bilateral investment treaties are outdated and as Italy and Ireland have shown by already terminating their intra EU BITs, no longer necessary in a single market of 28 Member States. We must all act together to make sure that the regulatory framework for cross border investment in the single market works effectively. In that context, the Commission is ready to explore the possibility of a mechanism for the quick and efficient mediation of investment disputes.”Bilateral Investment Treaties (BITs) set the terms and conditions for investments between two states.
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