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The Cape Verde Scandal and another major example of what is wrong with the EU.

Tom Winnifrith Sunday 12 June 2016

 

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Ten years ago Cape Verde, a small group of islands south of the Canaries, was hyped as the next holiday home hotspot. Apart from the perfect climate, Cape Verde sold itself on being an associate member of the EU as well has having solid property laws (it was until recently a Portuguese colony). The favoured currency in the country is the Euro. UK and Irish investors bought into promised developments promoted by Irish, British and Italian developers, handing over staged payments totalling an estimated € 300 million. 

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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