economic progress
Albert’s active life
In 1988, Prince Albert was appointed President of the Organizing Committee of the Monte Carlo Television Festival, held annually in the Principality in February, to which hundreds of television experts come. Here his interest in communications and technological innovations taking place in this industry is fully manifested.
Albert had to solve another important problem. For a long time, the principality appeared on the black list of the international commission on combating money laundering. The Principality has gained fame as an offshore zone, where billions of dollars flowed from financial fraud around the world. Albert Grimaldi did everything to improve the reputation of the country: together with Rainier III, Albert achieved the exclusion of the principality from the “black” lists. Continue reading
Principality before the Second World War
The principality, which was reduced in size and deprived of resources, was in an extremely difficult financial and economic situation. Raising taxes further was impossible. Back in the 1850s, the authorities decided to improve the matter by opening a casino, but the gambling house of the French businessman Duran was soon closed due to lack of transport connections and lack of competitiveness. The businessman Lefebvre, who bought the company, also failed to fix the matter.
After several attempts to revive trade, Charles III and his mother Carolina decided to organize a company called the “Sea Bathing Society”. Continue reading
