Abstract

Regardless of times being regular or irregular, States act both at national and at the international level and such actions may affect investments. At unusual times, States need legal instruments that will provide them with flexibility allowing for appropriate action. It is here suggested that such an instrument at a national plane is the principle of proportionality, enshrined in domestic administrative law. In order to elaborate its content, the English common law Wednesbury reasonableness and the principle of Verhältnismäßigkeit under German Law are analyzed, along with the ...