German Constitutional Court decision in Vattenfall

In my most recent blogpost I discuss the lessons which the decision of the German Constitutional Court (GCC) in the Vattenfall case can provide for the arbitral tribunal in the ECT Vattenfall dispute. Since the legal issues are very similar in both cases, it does not come as a surprise that the main elements of the legal analysis and conclusions of the GCC can to a large extent be applied in analogy to the ECT proceedings. In other words, the Vattenfall judgment of the GCC offers useful lessons for the ECT arbitral tribunal – in fact, for any arbitral tribunal that has to balance the protection of investments against the protection of public goods and regulatory policy space.