EU-Singapore trade deal awakens sovereign restructuring fears
Many worry that EU government bonds are now in play for international arbitration
A contentious investment protection provision in the deal has brought back memories of the Greek debt crisis
Trade and investment treaties are usually ushered in with smiles, handshakes, backslaps and photo opportunities for all concerned. But not everyone was happy when the European Parliament ratified a deal with Singapore on February 13: three members had called on the European Commission to amend a part of the treaty.
“This agreement is a financial risk for Europe. It complicates the liability of creditors in sovereign [debt] crises and could therefore shift risks to taxpayers,” says one of the
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