Rinse and clean the Small squid (txipirones); pat dry and cut larger ones into rings or leave the tiniest whole. Set aside.
Peel and finely chop the Onion. Core and slice the Green bell pepper and Red bell pepper into strips, and roughly chop the Tomato. Peel and mince the Garlic.
Heat a generous glug of Extra-virgin olive oil in a wide sauté pan or casserole over medium heat. Add the Onion and cook until soft and translucent, about 5–7 minutes.
Add the minced Garlic and the sliced Green bell pepper and Red bell pepper; sauté until the peppers have softened and the garlic is fragrant, 4–5 minutes more.
Stir in the chopped Tomato and cook until the tomato breaks down and the mixture becomes saucy, about 8–10 minutes.
Mix in the Pimiento choricero paste and a pinch of Piment d'Espelette so their flavors bloom in the hot pan.
Raise the heat briefly and pour in the Dry white wine to deglaze, scraping any browned bits from the bottom; let the wine reduce by about half.
Add the Fish stock and toss in the Bay leaves. Bring the sauce to a gentle simmer.
Nestle the prepared Small squid (txipirones) into the simmering sauce and cook gently until the squid is tender, about 8–12 minutes depending on size—avoid overcooking so it stays tender.
Season to taste with Salt and freshly ground Black pepper. Remove and discard the Bay leaves.
Finish by scattering chopped Fresh parsley over the stew and serve immediately, ideally with crusty bread or plain rice to soak up the sauce.
