One of the ministates of Europe. It is the size of a large park. Is it sovereign? Astonishingly, it joined the UN in May 1993. For monetary and foreign policies it is linked with France. If the ruler has no male heir the country becomes part of France.

This kind of state is a fossil remaining from the time when there were many such tiny states in medieval Europe. In Germany they continued until the Napoleonic conquests but in France all the others were incorporated into France during the Revolution (from 1789). In Italy only San Marino and the Vatican remain.

Ministates of this kind were originally created by local powerful men during the power vacuum which accompanied the collapse of the Roman Empire and the trading system. (see feudalism) Monaco itself was once larger. In France the former papal state at Avignon has gone, along with Burgundy, a much larger entity at one time.

French

The country is more or less the private estate of the ruling Prince (Albert).

The main business is to be a haven for tax dodging and the Casino. As the larger states are talking about a campaign against tax havens, Monaco may experience pressure to stop sheltering rich men's money.

Excellent for the rich.