Cape Verde–European Union relations geographically in Asia, has already joined both the Council of Europe and the EU. Furthermore, the Cape Verde islands are part of the same island group as the Canary Islands (part of Spain), Madeira Islands (part of Portugal) and Azores Islands (part of Portugal), known as Macaronesia. There is currently no political recognition by the EU of Cape Verde as a European state, but unlike in the case of Morocco, there is no formal rejection either. Complementing Cape Verde's efforts to join the EU, the Macaronesian group of islands (the Azores, Madeira, and the Canary Islands) are throwing their support
Cape Verde–European Union relations Bosnia and Herzegovina. In terms of respect of democracy the Freedom house report ranks Cape Verde top in Africa and again Cape Verde has a better ranking than that of some designated "potential candidate or member countries" of the EU: Bosnia and Herzegovina, Croatia, and Albania. Most of the imports and exports of Cape Verde are for and from the European Union, and it has a service-based economy. Its currency, the escudo, is pegged to the euro. Although the Cape Verde archipelago is geographically in Africa, there have been similar situations before. Cyprus is an island nation that, despite being