As members of the Eurozone are now acutely aware, the lack of a sovereign debt-restructuring regime is one of the most glaring gaps in the international financial architecture. In the absence of a clear and coherent regime, some investors have sought to investor-state-dispute systems (ISDS) in bi-lateral investment treaties (BITs) and the investment provisions of free trade agreements (FTAs) as instruments to circumvent important restructurings that have occurred. Under investment treaties, Argentina has been challenged for its sovereign debt restructuring of the early 2000s and Greece was challenged for the restructuring conducted by the International Monetary Fund, European Commission, and the European Central Bank. The trade and investment treaty regime is not equipped to govern global financial stability in general and sovereign debt restructuring in particular. It is paramount to ensure that the Trans-Atlantic Trade and Investment Partnership (TTIP) does not govern these matters and leaves sovereign debt to national governments and international financial and monetary authorities.
Dive into the insightful analysis published in IPS Journal by Tom Theuns, Assist. Prof at Leiden University, and László Andor, FEPS Secretary General, examining the Dutch election results and the conclusions that need to be drawn for a successful EU Integration
“Trade doesn’t work in isolation from good domestic policies” Interview to Arancha González
by Borderlex 19/09/2023
Interview to Arancha González, former Spanish foreign minister, who released together with FEPS the new book entitled 'The Trade Handbook: Making Trade Work for Prosperity, People and Planet'
A szociális unió imperatívusza
by Új Egyenlőség 09/09/2023
'The imperative of Social Union'. Article about FEPS book 'Europe’s Social Integration: Welfare Models and Economic Transformations' by László Andor.
Após 66 anos de adiamentos, a barragem do Pisão entrou em contra-relógio
by Pùblico 19/08/2023
'After 66 years of postponements, the Pisão dam has entered a race against time' Pùblico's article mentions FEPS Policy Study 'Governing the RRF'
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