As investigations in Germany mount over the online payment giant Wirecard's high-profile bankruptcy, the Mauritian authorities are being dragged into the scandal. The German group used an accounting trick to inflate its revenues by €290m in a single week via structures registered on the island.
The Mauritius government was quick to strike up talks with European national development agencies, who are major clients of its offshore finance services, following the EU's decision to add the country to its blacklist on money laundering.
The European Union's shock move to blacklist Mauritius for money-laundering and terrorist financing has sent investors scurrying for other markets, spreading alarm across the island's financial sector. But if private funds are running scared, European public agencies, major clients of the offshore centre, seem less distressed by the Commission's judgment.
Hardly have the agriculture and fishing free trade agreements been negotiated than a new dispute has sprung up between Morocco and the European Union (EU). According to our sources, Brussels is putting Morocco under increasing pressure to make substantial modifications