Monaco History

Monaco History

Early to middle ages

Around 1000 BC Phoenician seafarers, who came from the eastern Mediterranean, founded a commercial branch on the site of what is now Monaco (and other locations on the Mediterranean coast). From 500 BC Greeks settled here, whose temple in honor of Herakles Monoikos formed the basis for the name of the city (the name Monoikos means something like the “unique”). From the 2nd century the Greeks were ousted by the Romans, since 154 BC. the designation “Herculis Monoeci portus” is handed down. The Romans followed in the 6th century AD. the Visigoths as rulers on today’s French Riviera, from the 8th century Monaco belonged to the Franconian Empire.

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Merchants from Genoa were granted the right of establishment in Monaco by the Roman-German Emperor Friedrich Barbarossa in 1162, and the Roman-German Emperor Heinrich VI. Monaco of the Republic of Genoa as a gift including all sovereign rights. Monaco was also affected by the often bloody clashes between the Papal Guelphs and the Ghibellines, loyal to the emperors, which raged in many Italian city-states at the end of the 12th and 13th centuries.

In 1297 the noble family of the Grimaldi settled in Monaco, Francisco Grimaldi took over the city as Rainier I.

Modern times

In 1498, the sovereignty of Monaco was recognized by France and Savoy provided the state remained under French patronage.

In 1612 Honor¨¦ II of Monaco (also: Onorato II.) Assumed the title of prince. After the death of the last male heir, the dynasty and name were continued by the Gayon-Matignon family, who were married.

The state was annexed by France in 1793 as part of the French Revolution. After the final defeat of Napoleon against the Allied Powers Russia, Austria, Prussia and Great Britain, the Grimaldis got their property back through the decisions of the Congress of Vienna in 1815, but Monaco was placed under the patronage of the Kingdom of Sardinia. When Sardinia was annexed to Italy in 1861, Prince Charles III. Grimaldi that France recognized Monaco as a sovereign state. According to AbbreviationFinder, the towns of Menton and Roquebrune, which had previously belonged to Monaco, fell to France. A customs union between Monaco and France was closed four years later.

In 1865, a casino was opened in Monaco that was to become world famous and attract an exclusive clientele, not least because gambling was forbidden in France at that time. The casino, which also became an opera house, was designed by the French architect Charles Garnier, who also designed the Great Opera in Paris. It provided the state with so much income that the Monegasque prince was able to grant his subjects tax exemption.

20th century

In 1911 Monaco received a first constitution under the regent Prince Albert I. Grimaldi, seven years later a new agreement was concluded with France, which confirmed the sovereignty of Monaco and established that if the Grimaldi family died out, the territory would fall to France. In 1949 Prince Rainier III. Regent of Monaco who married American actress Grace Kelly in 1956. At the end of the 1950s, extensive land reclamation measures expanded the state area by around 30%.

In the new constitution of 1962, which is still valid today, the prince renounced the establishment of his rule “by grace of God”, Monaco became a constitutional hereditary monarchy. A two-chamber system with partially directly elected MPs was introduced, whereby the prince, as head of state, remained dominant and endowed with far-reaching powers compared to other democratic systems. In terms of foreign policy, Monaco continued to be represented by France.

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The beginning of the new millennium was marked by discord between Monaco and the government of France, which assumed that the state was favoring money laundering, which Prince Rainier III. criticized as an attack on Monegasque sovereignty. In fact, Monaco does not levy income, wealth and inheritance tax, which leads to capital flight from abroad. (However, in an agreement signed with France in 1963, many of Monaco¡¯s tax breaks are not applicable to French citizens.) Although Monaco¡¯s tax policy is classified as ¡°problematic,¡± the OECD (Organization for Economic Cooperation and Development) has so far failed to Blacklisted “countries that are considered non-cooperative in the fight against money laundering.

Prince Rainier III died on April 6, 2005. His son Albert became the new prince of Monaco.

On February 15, 2006, the basic agreement with France of October 24, 2002 entered into force. Monaco has thus further detached itself from France and, in particular, increased its foreign policy scope. After Monaco previously had to obtain “prior agreement” from France on all foreign policy decisions, an “appropriate and regular vote” on the basic principles of Monaco ‘s international relations has been agreed since 2006. Monaco has expanded its diplomatic relations with other countries since the basic agreement was signed. In addition, it is now possible for a Monegasque citizen to become head of government.

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