Basically a Canadian company will most likely sue the Romanian government for refusing to allow an open pit gold mine. They won't do this in a Romanian court.
Just like we saw with Greece, sovereign nations are no longer all that sovereign. Treaties like TPP, and TTIP will further remove decision making capabilities from sovereign states. It's kinda crazy.
My understanding of this case is that the mining company signed a contract with the government for development of this mining project, and there is now the possibility that the parliament will at the eleventh hour break the terms of the agreement. I don't see why the government should be exempt from making restitution in cases where it breaks contracts.
Welcome to the new corporate imperialism I guess. Was a matter of time. But really what is this about? It's about economic growth at all costs, while tooting the horn of environmentalism.
http://www.bloomberg.com/news/articles/2013-09-11/paulson-ba... http://www.miningfacts.org/Blog/Mining-News/Canadian-Miner-P...
Basically a Canadian company will most likely sue the Romanian government for refusing to allow an open pit gold mine. They won't do this in a Romanian court.
Just like we saw with Greece, sovereign nations are no longer all that sovereign. Treaties like TPP, and TTIP will further remove decision making capabilities from sovereign states. It's kinda crazy.