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The Genoese built a fortress on the site of present day Monaco in 1215. The current ruling Grimaldi family secured control in the late 13th century, and a principality was established in 1338. Economic development was spurred in the late 19th century with a railroad linkup to France and the opening of a casino. Since then, the principality's mild climate, splendid scenery, and gambling facilities have made Monaco world famous as a tourist and recreation center.
party to: Air Pollution, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling
signed, but not ratified:
none of the selected agreements
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
elections:
the monarchy is hereditary; minister of state appointed by the monarch from a list of three French national candidates presented by the French Government
unicameral National Council or Conseil National (24 seats; 16 members elected by list majority system, 8 by proportional representation to serve five-year terms)
elections:
last held on 3 February 2008 (next to be held in February 2013)
election results:
percent of vote by party - UPM 52.2%, REM 40.5%, Monaco Together 7.3%; seats by party - UPM 21, REM 3
the US does not have an embassy in Monaco; the US Ambassador to France is accredited to Monaco; the US Consul General in Marseille (France), under the authority of the US ambassador to France, handles routine diplomatic and consular matters concerning Monaco
two equal horizontal bands of red (top) and white; the colors are those of the ruling House of Grimaldi and have been in use since 1339, making the flag one of the world's oldest national banners
note:similar to the flag of Indonesia which is longer and the flag of Poland which is white (top) and red
Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The principality also is a major banking center and 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.
note:full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France
note:full customs integration with France, which collects and rebates Monegasque trade duties; also participates in EU market system through customs union with France
general assessment: modern automatic telephone system; the country's sole fixed line operator offers a full range of services to residential and business customers
domestic:
combined fixed-line and mobile-cellular teledensity exceeds 100%
international:
country code - 377; no satellite earth stations; connected by cable into the French communications system
registered in other countries: 70 (Bahamas 15, Georgia 4, Isle of Man 3, Liberia 8, Marshall Islands 13, Norway 5, Panama 16, Saint Vincent and the Grenadines 5, Vanuatu 1) (2008)
The online Factbook is updated bi-weekly. ISSN 1553-8133
For additional information on government leaders in selected foreign countries, go to World Leaders.
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