Monaco's chief industry is tourism, and its facilities make it one of Europe's most luxurious resorts. Once a winter attraction, it now draws summer visitors as well to its beaches and expanded mooring facilities. The social life of Monte-Carlo revolves around the Place du Casino. The casino was built in 1861, and in 1967 its operations were taken over by the principality. Banking and finance and real estate are other important components of the services sector. The four sections, or quartiers, of Monaco are the town of Monaco, or “the Rock,” a headland jutting into the sea on which the old town is located ; La Condamine, the business district on the west of the bay, with its natural harbour; Monte-Carlo, including the gambling casino; and the newer zone of Fontvieille, in which various light industries have developed.
The principal occupations in Monaco are connected with the tourist trade, the economic foundation of the state. The sale of postage stamps and tobacco, banking and insurance, and the manufacture of pharmaceuticals and chemicals, electronic equipment, cosmetics, paper and cards, clothing and textiles, and plastic goods are also of economic importance. In 1993 the gross domestic product, which measures the total value of goods and services produced in the country, was $558 million. A major source of revenue is the great gambling casino at Monte Carlo. The economy of Monaco relies heavily on migrant labor, mainly from France and Italy. Monaco’s principal unit of currency is the French franc, consisting of 100 centimes.
Monaco, situated on the French Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The Principality has successfully sought to diversify into services and small, high-value-added, nonpolluting industries. The state has no income tax and low business taxes and thrives as a tax haven both for individuals who have established residence and for foreign companies that have set up businesses and offices. The state retains monopolies in a number of sectors, including tobacco, the telephone network, and the postal service. Living standards are high, roughly comparable to those in prosperous French metropolitan areas. Monaco does not publish national income figures; the estimates below are extremely rough
Monaco has been governed as a constitutional monarchy since 1911, with the Prince as chief of state. The executive branch consists of a Minister of State (head of government), who presides over a four-member Council of Government (cabinet). The Minister of State, who is a French citizen appointed by the Prince for a 3-year term from among several senior French civil servants proposed by the French Government, is responsible for foreign relations. As the Prince's representative, the Minister of State also directs the executive services, commands the police, and presides (with voting powers) over the Council of Government. The three other members of the Council are responsible for financial and economic affairs, internal affairs, and public works and social affairs, respectively.
Under the 1962 constitution, the Prince shares his power with the unicameral National Council. The 24 members of this legislative body are elected from lists by universal suffrage for 5-year terms. If the Prince dissolves the National Council, new elections must be held within 3 months. Usually meeting twice annually, the Council votes on the budget and endorses laws proposed by the Prince.
Ordinances passed by the National Council are debated in the Council of Government, as are the ministerial decrees signed by the Minister of State. Once approved, the ordinances must be submitted to the Prince within 80 days for his signature, which makes them legally enforceable. If he does not express opposition within 10 days of submission, they become valid.
Judicial power is invested in the Prince, who delegates judicial procedures to the various courts, which dispense justice in his name. The independence of the judges is guaranteed by the constitution. The Supreme Court is composed of five chief members and two assistant judges named by the Prince on the basis of nominations by the National Council and other government bodies. The Supreme Court is the highest court for judicial appeals and also interprets the constitution when necessary. Monaco's legal system, closely related to that of France, is patterned after the Napoleonic Code.
The principality's local affairs (i.e., the administration of the four quarters of Monaco-Ville, La Condamine, Monte Carlo, and Fontvieille) are directed by the Communal Council, which consists of 15 elected members and is presided over by the Mayor.
Founded in 1215 as a colony of Genoa, Monaco has been ruled by the House of Grimaldi since 1297, except when under French control from 1789 to 1814. Designated as a protectorate of Sardinia from 1815 until 1860 by the Treaty of Vienna, Monaco's sovereignty was recognized by the Franco-Monegasque Treaty of 1861. The Prince of Monaco was an absolute ruler until a constitution was promulgated in 1911.
In July 1918, a treaty was signed providing for limited French protection over Monaco. The treaty, formally noted in the Treaty of Versailles, established that Monegasque policy would be aligned with French political, military, and economic interests.
Prince Rainier III, the ruler of Monaco, acceded to the throne following the death of his grandfather, Prince Louis II, in 1949. The heir apparent, Prince Albert, was born in 1958.
A new constitution, proclaimed in 1962, abolished capital punishment, provided for female suffrage, and established a Supreme Court to guarantee fundamental liberties.
In 1993, Monaco became an official member of the United Nations with full voting rights.
Monaco, small independent principality of Europe, forming an enclave in southeastern France, bordered on the south by the Mediterranean Sea and surrounded on the north, east, and west by the French department of Alpes-Maritimes. The principality, which lies east of Nice, is a famous resort. The country is 1.95 sq km (0.75 sq mi) in area. The population in the 1982 census was 29,876, and the 2001 estimate was 31,842. Monaco has one of the highest population densities of any country in the world, 16,329 persons per sq km (42,293 per sq mi). The principality is composed of four districts: Monaco, the capital; La Condamine; Monte Carlo; and Fontvieille. The official language of the country is French.
N/A
Legal system: based on French law; has not accepted compulsory ICJ jurisdiction
Suffrage: 21 years of age; universal
Executive branch: chief of state: Prince RAINIER III (since 9 May 1949); Heir Apparent Prince ALBERT Alexandre Louis Pierre, son of the monarch (born 14 March 1958)
head of government: Minister of State Patrick LECLERQUE (since 5 January 2000)
cabinet: Council of Government is under the authority of the monarch
elections: none; the monarch is hereditary; minister of state appointed by the monarch from a list of three French national candidates presented by the French Government
Legislative branch: unicameral National Council or Conseil National (18 seats; members are elected by popular vote to serve five-year terms)
elections: last held 1 and 8 February 1998 (next to be held NA January 2003)
election results: percent of vote by party - NA%; seats by party - UND 18
Judicial branch: Supreme Court or Tribunal Supreme (judges appointed by the monarch on the basis of nominations by the National Council)
International organization Member
ACCT, ECE, IAEA, ICAO, ICRM, IFRCS, IHO, IMO, Inmarsat, Intelsat, Interpol, IOC, ITU, OPCW, OSCE, UN, UNCTAD, UNESCO, UPU, WHO, WIPO, WMO, WToO
people speak Monégasque, a mixture of French and Italian. Italian and English are also spoken. The commune of Monaco, located on a rocky promontory, is an ancient fortified town. Among its points of interest are a cathedral, a palace in the medieval and Renaissance styles, and an oceanographical museum, established in 1910 by Prince Albert I. The Monte Carlo Opera and Monte Carlo Philharmonic Orchestra are here; the Monaco Grand Prix and Monte Carlo Rally are popular annual automobile-racing events.
Monaco's refusal to impose income taxes on its residents and on international businesses that have established headquarters there led to a severe crisis with France in 1962. A compromise was reached by which French citizens with less than five years residence in Monaco were taxed at French rates and taxes were imposed on Monegasque companies doing more than 25 percent of their business outside the principality.
In 2001, Monaco's population was estimated at 32,020, with an estimated average growth rate of 0.46%.
French is the official language; English, Italian, and Monegasque (a blend of French and Italian) also are spoken. The literacy rate is 99%. Roman Catholicism is the official religion, with freedom of other religions guaranteed by the constitution.
National and Democratic Union or UND [leader NA]; National Union for the Future of Monaco or UNAM [leader NA]; Rally for the Monegasque Family [leader NA]
None; there are no first-order administrative divisions as defined by the US Government, but there are four quarters (quartiers, singular - quartier); Fontvieille, La Condamine, Monaco-Ville, Monte-Carlo
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