By calling into question the binding nature of arbitral clauses, the democratization and the materialization of PIL are eroding the underpinning of arbitration which is instrumental in supporting the interconnectedness of markets in matters of dispute resolution. The proceduralization of both PIL and arbitration goes together with a reduced concern for substantive law issues, in particular in the context of recognition/enforcement proceedings. As the Europeanization of PIL leads to unpleasant questions with regard to this discipline's prospects and relevance, international arbitration can be perceived as a refuge for practitioners or scholars who are uneasy with the implications of Europeanization in matters of conflict of laws and/or jurisdictions.
