The chapter deals with international investment agreements and financial crises. Arbitral proceedings have highlighted the complex and sometimes problematic tension between necessary state measures to address crisis situations and obligations entered into vis-à-vis foreign investors mainly in bilateral investment agreements. After an introduction into the types of pertinent state measures typically taken during financial crises, this chapter describes possible impacts on the rights of investors, the applicable regulatory framework and available legal defences on the part of the state. The contribution focuses on those State measures in financial crises that have led (and might still lead) to some arbitral case law: Argentina, Greece and Cyprus. As a final part, this contribution briefly discusses recommendations aimed at addressing the shortcomings within the current legal framework and practice.
Marija Dobrić and Philipp Janig
Persons belonging to minorities or other vulnerable groups suffer from increased hardship in their everyday lives. Stateless persons, that is, those that do not have the nationality of any state in the world, are a particularly vulnerable group and have difficulty in securing the protection of their human rights. This is especially pertinent in the context of social rights, as states enjoy more discretion when allocating benefits that have fiscal implications. The international legal framework offers some recourse to those persons. However, protection under the ICESCR might be restricted through its Article 2(3). Moreover, protection under the 1954 Statelessness Convention appears insufficient, at least due to its limited ratification by states with significant stateless populations. This chapter outlines the protection mechanisms in place and explores whether they adequately protect the social rights of stateless persons.