Monaco
Geography
Monaco, officially known as the Principality of Monaco, is a sovereign city-state located on the French Riviera in Western Europe. It is bordered by France to the north, east and west, and by the Mediterranean Sea to the south. The city-state consists of four traditional quarters - Monaco-Ville, La Condamine, Monte Carlo and Fontvieille. However, with land being in short supply, the principality has been extended by reclaiming land from the sea.
History
The history of Monaco is closely linked with its geographical location and its political situation in Europe. The Rock of Monaco served as a shelter for the area's early inhabitants from the end of the Paleolithic period, approximately 300,000 BC, evidence of which has been found in a cave in Saint-Martin Gardens. The Phocaeans of Massalia founded the colony of Monoikos, in the 6th century BC, in the area now known as Monaco.
Politics
Monaco is a constitutional monarchy with the Prince as the head of state. The executive branch consists of a Minister of State and five government counselors. The constitution of Monaco was promulgated in 1962 and outlines the governing principles of the principality’s institutional structure.
Economy
Monaco's economy is unique due to its reliance on tourism and gambling for revenue. The state has no income tax for individuals, which has led to a considerable number of wealthy "tax refugee" residents from European countries, who earn their wealth outside of Monaco. Monaco is not a member of the European Union, but it maintains an open border and customs union with France and is treated as part of the Schengen Area.
Culture
Monaco's culture is heavily influenced by its location on the French Riviera, its history, and its status as a playground for the world's rich and famous. The Monaco Grand Prix, held annually since 1929, is one of the most prestigious automobile races in the world and attracts a large number of tourists. The principality also hosts the annual Monte Carlo Rally and the Monaco Yacht Show.
Education
Education in Monaco is governed by the Department of Education and is compulsory for children from the ages of 6 to 16. The state provides public education in Monaco's official language, French, and schools also offer courses in English and Italian. The International University of Monaco offers undergraduate and graduate degrees in business.