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"Preface and acknowledgements" [2017] ELECD 457; in Tams, J. Christian; Schill, W. Stephan; Hofmann, Rainer (eds), "International Investment Law and the Global Financial Architecture" (Edward Elgar Publishing, 2017) x

Book Title: International Investment Law and the Global Financial Architecture

Editor(s): Tams, J. Christian; Schill, W. Stephan; Hofmann, Rainer

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781785368875

Section Title: Preface and acknowledgements

Number of pages: 3

Extract:

Preface and acknowledgements
The early years of the 21st century have tested the regulatory architecture
of international finance. In response to financial and debt crises, govern-
ments and international institutions have agreed on a range of (traditional
and novel) regulatory measures. The preservation of financial stability
has emerged as a major policy goal; and we have become used to
discussing `sovereign defaults', `bail-outs' and, more recently, `bail-ins'.
These developments have implicated international investment law. Invest-
ment arbitration in particular has become a site of contestation in the
struggle pitting crisis responses against investor protection. But should
investment law protect against defaults, bail-outs or bail-ins, including
where these have the support of multilateral institutions? Where is the
line to be drawn between legitimate regulation and undue interference
with investor rights? And who draws it? The contributions to this book ­
the second volume in the Frankfurt Investment and Economic Law Series
­ engage with these questions. They identify key challenges facing
decision-makers, analyse arbitral decisions and treaty practice, and
evaluate ways towards a balanced system of investment protection in the
financial sector. In doing so, they offer a detailed analysis of the
interaction between investment protection and financial regulation in
fields such as sovereign debt restructuring and bank rescue measures. As
editors, we hope that they will contribute, at least in small measure, to a
better understanding of one of the major challenges facing the con-
temporary regime of investment protection.

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In the preparation of this book we ...