'Future Monaco': The port of Tivat in Montenegro is going to be transformed into the 'Monaco of the Adriatic' and has a tight circle of wealthy backersMonaco Of The Balkans
Goodbye Monaco, Hello Montenegro
British financiers are backing a new playground for the rich in a Balkan port
The roads are crumbling and the power and water supply is erratic but British investors are placing bets. Welcome to Tivat, which is being described as the Monaco of the Balkans.
It may lack the cachet of Cannes, but developers have big plans for Tivat, a derelict port and former Yugoslav naval base in the tiny former communist country of Montenegro.
A group of high-profile investors, including Lord Rothschild, the financier and friend of the Prince of Wales, and his son Nat, are converting what used to be the dockyard into a marina for the oversized yachts of the rich and famous.
It is hoped that Porto Montenegro, as it is to be christened, will become a magnet for mega-rich yacht owners cruising the Mediterranean.
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Monaco Of The Adriatic
The Mafia paradise that holds secret to tycoons' alliance
By Richard Pendlebury and Neil Barnett
Last updated at 1:00 AM on 24th October 2008
Springtime in Brussels and a familiar figure is wreathed in smiles as he announces his latest diplomatic masterstroke.
After three years of talks Peter Mandelson, the EU Trade Commissoner, has secured a bilateral agreement with the tiny Adriatic nation of Montenegro.
'Today's signature is an important milestone,' he cooed. Montenegro's progress towards becoming a reliable world trading partner had been 'remarkable'.
Too Close For British Comfort
From The Times Online Slide Show
Osborne And The Oligarch
George Osborne, the Shadow Chancellor, was forced to give a statement to the press denying claims that he tried to solicit a £50,000 donation to the Tory Party from a Russian billionaire, Oleg Deripaska
(Paul Rogers/The Times)
The allegations, made in a letter to The Times by Mr Osborne’s former university friend Nathaniel Rothschild, concern a series of meetings held with Mr Deripaska (pictured) in Corfu
(Vasily Smirnov/ITAR-TASS)
Peter Mandelson, the Secretary of State for Business, was present at some of the meetings, during which it is claimed he had dripped ’pure poison’ about Gordon Brown - before he was recalled to the Cabinet
(Gareth Fuller/PA)
Mr Osborne was joined at the meeting by Andrew Feldman, Conservative chief fundraiser, who it is claimed discussed a donation. Political parties cannot accept donations by foreigners, but they would have been permitted had they come through Mr Deripaska’s UK-based Leyland Daf company
(Susannah Ireland/The Times)
Nathaniel Rothschild, pictured here in 2003, got to know Mr Osborne at Oxford’s notorious exclusive drinking society, the Bullingdon Club
(Dominic O'Neill/Desmond O'Neill Features)
The Bullingdon Club of 1992: pictured are (1) George Osborne, (2) Harry Mount, (3) Chris Coleridge, (4) Lupus von Maltzahn, (5) Mark Petre (6) Peter Holmes a Court, (7) Nat Rothschild, (8) Jason Gissing
(Monacoeye.com)
A Google Earth Image shows the Rothschild Estate, a short way up the coast.
(Google Earth)
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Peter Mandelson oligarch Oleg Deripaska linked to mafia boss
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The £5 billion reason Rothschild knifed his friend George in the back
Vengeful: Nat Rothschild, pictured with Petrina KashoggiAs Oleg Deripaska's yacht sailed away from the fateful encounters off Corfu last August her captain set a course far from the playgrounds of the mega-rich and headed for one of the most desolate harbours in the Adriatic. The Queen K had dallied for days at the gorgeous anchorage near Nat Rothschild's magnificent cliff-top villa, but on 27 August, just after hosting Mandelson, Osborne et al, the £80 million vessel dropped anchor off a wharf filled with rusting cranes, crumbling concrete and a couple of half-sunken Cold War submarines.
