Portugal: Billions of euros of EU money yet Madeira has built up massive debts

Tucked beneath towering cliffs on Madeira’s storm-battered west Atlantic coast, the €50 million Marina do Lugar de Baixo aimed to provide the perfect welcome for super-luxury yachts.

 

Unfortunately, thanks to the huge waves that have fractured the harbour wall three times since it was built in 2005, not even the more adventurous yachtsmen have often been tempted, never mind passing billionaires in floating palaces.

Today it lies abandoned, a chain blocking the [...]