The impact of the «Fagor crisis» in the basque cooperative movement
Abstract
The cooperative movement in the Basque Country is a recognized and studied movement all over the world, especially because of the work that Mondragón Corporación Cooperativa (MCC) has made in that field during more than 55 years. However, the model of MCC has become unstable due to the crisis of Fagor Electrodomésticos S. Coop. that in October 16th, 2013, announced that it was in the previous stage of a state of insolvency, and finished announcing its insolvency on November 15th, 2013. This fact made that various sectors would call into question the system of the Basque cooperative movement and also its values and principles. This article studies the facts that caused the crisis of Fagor, to try to establish if that crisis could effectively put into risk MCC and, as a last resort, the whole Basque cooperative movement.
Received: 02 June 2015
Accepted: 17 July 2015
Published online: 18 December 2015
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