In order to understand the reform of international investment law envisioned by the EU, the author provides a comprehensive but concise analysis of the EU reform approaches, its constitutional and legal framework, the concepts of the rule of law and legitimacy, and the reasons for the reform. In particular, the book exposes tensions between the EU aspiration to enhance the rule of law in international investment law, as a means of legitimising this legal discipline, and the challenges of its reform approaches in practice. The analysis combines substantive and procedural aspects of the EU reform of international investment law in the intra-EU context and EU external relations. This book thus critically evaluates the EU vision of the rule of law in international law and its contribution to the development of international law in the field of investment.

‘This is a comprehensive, policy-oriented study of the input of the European Union in the on-going struggle over the future direction of international investment law. Written with elegance and a critical eye on legal details, the book succeeds marvelously in the almost impossible task of bringing together and evaluating the different ideas underlying the various meanings of the ‘rule of law' animating EU's internal and external policy as well as international investment law. It peaks in a sharp and realistic analysis of the prospects for the proposed International Investment Court. This is the best work that I have read on the law and politics and international investment law.'

Martti Koskenniemi FBA - Professor of International Law, University of Helsinki, Emeritus