PROYECTOS ABIERTOS
MEDIACION
Based on a comprehensive review of the principles of alternative dispute resolution and a strategic decision to best serve the public interest, our approach to the Spanish public debt crisis will now be formally re-oriented. COCOO will pivot from the role of a prospective claimant to that of a neutral, third-party Mediator. Our goal is no longer to pursue a procurement contract through pressure, but to leverage our unique, privileged knowledge to convene all affected parties and facilitate a comprehensive, lasting resolution to this systemic crisis.
Our media campaign will consequently be redesigned as a “Call for Mediation.” Its purpose is to shift the public and political narrative away from a zero-sum game of blame and litigation towards a constructive, interest-based dialogue. The campaign will frame the public debt issue as a complex, multi-stakeholder deadlock where the government, the financial sector, taxpayers, investors, and businesses are all trapped in a dysfunctional system that is eroding public value. We will publicly articulate that decades of conventional litigation would be ruinously expensive and unlikely to produce a sustainable outcome. The campaign’s core message will be that a mediated settlement is the only rational and efficient path forward, and that COCOO, due to its independence and deep prior research, is the only credible entity to facilitate it.
In line with this new strategy, we will issue a new Unsolicited Proposal for a “Mediated Fiscal and Financial Accord.” This proposal will be directed not only to the Spanish Government, but also to the leadership of Spain’s main banking associations, key institutional investors, and representatives of the primary affected classes, such as national SME federations and consumer organisations.
The proposal will outline a structured, multi-stage mediation process. The first stage involves convening the parties, using the public momentum from our awareness campaign to create a powerful incentive for all stakeholders to come to the table. The second stage is shared analysis, where COCOO will provide its extensive, evidence-based research on the root causes of the crisis as a neutral and objective briefing file for all participants. This transforms our “privileged knowledge” from a litigation asset into the common factual basis for negotiation.
The third and central stage will be facilitated dialogue, where COCOO, as an impartial mediator, will guide confidential discussions aimed at moving beyond entrenched positions to identify the core interests of each party. The final stage is to co-design a comprehensive settlement agreement. This is where the advanced legal concepts from our research, such as novation and assignment, become critical tools. The mediated outcome would not be simple monetary compensation; it would be a sophisticated and binding agreement that could involve the novation of tranches of illegitimate debt—replacing them with new, sustainable financial instruments with realistic terms. It could also involve the assignment of various stakeholder claims into a new recovery and investment vehicle, designed to channel funds towards productive sectors of the Spanish economy.
Our proposal will make it clear that COCOO’s unique qualification as mediator stems from our proven independence, our unmatched pre-existing knowledge of the systemic failures, and our international standing. We are not just a facilitator; we are an informed, neutral architect for a viable solution. This strategy moves us beyond conflict and positions COCOO as the essential catalyst for resolving one of Europe’s most complex and entrenched economic challenges.
FOREIGN JURISDICTIONS
Based on my investigation into the international contractual landscape of the Spanish state and its major banks, a number of foreign countries and prominent international companies have significant exposure and contractual relationships with the perpetrators in our case. These entities are key stakeholders, either as creditors, public contractors, or financial partners, and their involvement is critical to understanding the full scope of the issue.
A substantial portion of Spanish sovereign debt is held by non-resident entities, creating direct contractual relationships between the Spanish government and foreign creditors. Within the Eurozone, financial institutions, pension funds, and insurance companies from France and Germany are among the most significant holders of Spanish bonds. Major global asset management firms headquartered in the United States, such as BlackRock, PIMCO, and Vanguard, also manage funds that have considerable investments in Spanish public debt. Similarly, financial institutions based in the United Kingdom, Japan, and other major economies are key players in this market. On a sovereign level, the European Central Bank is a massive holder of Spanish debt through its various asset purchase programs.
In the sphere of public procurement, the Spanish government and its state-owned enterprises have awarded major contracts to a range of foreign corporations, particularly in strategic sectors. In infrastructure and transport, for example, French industrial groups like Vinci and Eiffage have been successful in securing significant public works contracts. The energy sector also sees substantial foreign participation. In the defense industry, the Spanish government maintains important contractual relationships with major international firms, including a notable partnership with the UK’s BAE Systems and American companies like Lockheed Martin on various defense programs.
Furthermore, Spain’s largest banks, Santander and BBVA, operate globally and have deep contractual ties with their international counterparts. In large-scale corporate financing and sovereign bond underwriting, they frequently form syndicates that include other major European institutions such as BNP Paribas, Société Générale, and Deutsche Bank, as well as American investment banks like J.P. Morgan, Goldman Sachs, and Morgan Stanley. These partnerships create a deeply interconnected financial network where risks and responsibilities are shared among a small group of global players.
Identifying these foreign state and corporate actors is a crucial strategic step. They are not merely bystanders; they are contractual partners with a vested interest in Spain’s financial stability and regulatory environment. This allows us to frame the issue as one of international concern, providing avenues to exert pressure and seek a mediated resolution that involves a broad coalition of affected stakeholders.