Azores should be nice. The only reason you would find me in the Canary Islands would be for a well paid project :) I've worked for a year in Cape Verde on Sao Nicolau years back.

Ecuador or Cuenca to be more specific is great. Easy living and very cheap. Though with everything going on politically, it feels it wouldnt take much of this place to set off again. I fear this will happen regardless as the global economy contracts.