After a century of accelerating drainage, in the 1960s coastal wetlands became the object of unprecedented protection campaigns around the world. This paper compares the history of three successful cases of coastal wetland protection in the Mediterranean between the 1960s and 1980s: the Rhône (France), Po (Italy), and Ebro (Spain) River deltas. As most of the coast of Mediterranean Europe, these three cases were at the center of renewed redevelopment attempts, to further expand intensive agriculture, industry, and seaside tourism, which invariably involved wetlands drainage. In these three cases, protection was achieved by establishing “regional parks” in the deltas. We argue that it was not by chance. Wetland advocates at the international, national, and local scales coated their plea for protection in the language of economics, making the case for wetlands’ value as “liquid assets.” They argued that wetland protection could rhyme with development and, abandoning initial projects to protect deltas as national parks, focused their efforts on creating regional parks instead. Stemming from the European regional planning movement, the regional park framework proved expedient to combine development expectations and wetland protection. Thanks to modular land use zoning, it promised to combine productive activities with protected areas, without imposing uniform restrictions on the entire deltas such as those often associated with national parks. The history of these three coastal parks, therefore, sheds light on the counterintuitive but strong relationship existing between coastal development and protection by uncovering the discursive strategies and unlikely coalitions that made conservation possible.