Abstract
This contribution discusses the EU law ramifications on Member State investment guarantee systems. It examines firstly the legal framework on investment guarantee schemes in EU Member States, noting in particular the role of export credit agencies (ECAs), as well as the different types of insurance available, before exploring the EU competence over foreign investment insurance. After arguing that the EU has exclusive competence over insurance covering FDI under Article 207 TFEU, the issue of harmonisation of rules on foreign investment insurance is addressed, concentrating on the need and the desirability of such harmonisation, as well as its potential scope and the challenges that the drafting of appropriate harmonised rules present. Finally, the effects of EU law on international agreements relating to investment guarantee are examined focusing on the participation of the EU and its Member States in MIGA and the existence and content of subrogation clauses in Member State BITs and EU investment agreements. In conclusion, it is argued that the EU’s exclusive competence over FDI requires a reassessment of national rules on foreign investment insurance, which may offer an excellent opportunity to reconsider the substance of foreign investment insurance provisions.
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