In the public discourse, transparency often appears as something inherently positive, as if it was a value, a goal in itself. This may explain why democracies so often appear lost when it comes to the pursuit of transparency. I argue that without restoring the rationale behind transparency, its current degeneration is detrimental both t - o demo cratic legitimacy and to legal certainty. Rather than championing transparency for its own sake, it should serve as an instrument to enhance social trust and thus one of the factors contributing to the accumulation of social capital. A test case of the problem is the role of the European Parliament, national authorities and international investors as stakeholders in the ttip /ceta negotiations on investment arbitration. The chang - ing geometry or relations between citizens, the public authority and foreign investors matched with the current shortcomings in transparency regulation entail normative conflicts and undermine the legitimacy of the system. 1 Introduction: Split Personality If one looks for a common denominator of the general backlash against global - isation and neoliberal economy in recent years, transparency seems to act as the detonator for the accumulated social resentment. Transparency has found its way onto banners
European Investment Law and Arbitration Review – Brill
Published: Jan 1, 2017
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