Total Owed by Spain
Total Interest and Legal costs incurred by Spain
€ 1,478,500,000
Total of the Principal Awards
€ 19,926,000,000
Damage to the Spanish Economy as a result of bond default procedures, increased uncertainty and added legal risks
€ 93,000,000
Legal Costs Incurred by Spain
Spain has more international arbitration debts than any other country in the world, topping the league table alongside Russia and Venezuela. Spain is one of a very select few countries, together with Venezuela, that refuses to settle final World Bank ICSID awards. Spain’s failure to honour her obligations is having serious consequences including asset seizures of state property, a Spanish bond default, huge interest and legal fees, reputational damage to Spain as an investment destination and implications for renewable energy investments worldwide. The Rule of law is under threat and the Spanish Government is failing its citizens, remarkably all of the cases against her are in renewable solar energy.
Key Facts
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Media Coverage