--- title: Monaco — English Wikipedia · full text with trees · page 3 description: Wikipedia's «Monaco», whole, every sentence with its dependency tree and pragmatics, CC BY-SA 4.0. It begins: Monaco, officially the Principality of Monaco, is a sovereign city-state and microstate in Western Europe. --- [Mova](https://md.mova.elamur.ai/free/en/) · [this page in HTML](https://mova.elamur.ai/free/en/corpora/wikipedia/en/Monaco/page/3/) [home](https://md.mova.elamur.ai/free/en/) / [corpora](https://md.mova.elamur.ai/free/en/corpora/) / [wikipedia](https://md.mova.elamur.ai/free/en/corpora/wikipedia/) / [en](https://md.mova.elamur.ai/free/en/corpora/wikipedia/en/) / Monaco # Monaco · page 3 From Wikipedia, [«Monaco»](https://en.wikipedia.org/wiki/Monaco), revision of the 2026-09-01 dump, [CC BY-SA 4.0](https://creativecommons.org/licenses/by-sa/4.0/). The trees and pragmatics of these pages, Mova's parse of that text, are CC BY-SA 4.0 too. [1](https://md.mova.elamur.ai/free/en/corpora/wikipedia/en/Monaco/) [2](https://md.mova.elamur.ai/free/en/corpora/wikipedia/en/Monaco/page/2/) **3** [4](https://md.mova.elamur.ai/free/en/corpora/wikipedia/en/Monaco/page/4/) There are no border formalities entering or leaving France, and there have been no land border controls since 1963.[\[126\]](../../page/4/#ref-126 "note 126")[\[125\]](../../page/4/#ref-125 "note 125")[217](../../217/ "tree and pragmatics") For visitors, a souvenir [passport](https://en.wikipedia.org/wiki/Passport) stamp is available on request at Monaco's tourist office.[218](../../218/ "tree and pragmatics") This is located on the far side of the gardens that face the Casino.[219](../../219/ "tree and pragmatics") | Microstate | [Association Agreement](https://en.wikipedia.org/wiki/European_Union_Association_Agreement) | [Eurozone](https://en.wikipedia.org/wiki/Eurozone)[\[127\]](../../page/4/#ref-127 "note 127") | [Schengen Area](https://en.wikipedia.org/wiki/Schengen_Area) | [EU single market](https://en.wikipedia.org/wiki/Internal_Market) | [EU customs territory](https://en.wikipedia.org/wiki/European_Union_Customs_Union)[\[128\]](../../page/4/#ref-128 "note 128") | [EU VAT area](https://en.wikipedia.org/wiki/European_Union_Value_Added_Tax_Area)[\[129\]](../../page/4/#ref-129 "note 129") | [Dublin Regulation](https://en.wikipedia.org/wiki/Dublin_Regulation) | | --- | --- | --- | --- | --- | --- | --- | --- | | ([relations](https://en.wikipedia.org/wiki/Monaco–European_Union_relations)) | [\[130\]](../../page/4/#ref-130 "note 130") | [\[131\]](../../page/4/#ref-131 "note 131") | [\[134\]](../../page/4/#ref-134 "note 134") | [\[136\]](../../page/4/#ref-136 "note 136") | [\[140\]](../../page/4/#ref-140 "note 140") | [\[141\]](../../page/4/#ref-141 "note 141")[\[143\]](../../page/4/#ref-143 "note 143") | | #### Twin cities Monaco's [twin cities](https://en.wikipedia.org/wiki/Twin_towns_and_sister_cities) are:[220](../../220/ "tree and pragmatics") | | | | | | --- | --- | --- | --- | | [Ostend](https://en.wikipedia.org/wiki/Ostend), [Belgium](https://en.wikipedia.org/wiki/Belgium) [corpus](../../../Belgium/ "in our corpus") since 1958[\[144\]](../../page/4/#ref-144 "note 144") | [Macau, China](https://en.wikipedia.org/wiki/Macau,_China) since 1992 | [Lucciana](https://en.wikipedia.org/wiki/Lucciana), [Corsica](https://en.wikipedia.org/wiki/Corsica), [France](https://en.wikipedia.org/wiki/France) [corpus](../../../France/ "in our corpus") since 2009[\[145\]](../../page/4/#ref-145 "note 145") | [Campagna](https://en.wikipedia.org/wiki/Campagna), [Campania](https://en.wikipedia.org/wiki/Campania), [Italy](https://en.wikipedia.org/wiki/Italy) [corpus](../../../Italy/ "in our corpus") since 2015 | ### Security and military Main article: [Law enforcement in Monaco](https://en.wikipedia.org/wiki/Law_enforcement_in_Monaco), [Military of Monaco](https://en.wikipedia.org/wiki/Military_of_Monaco) The wider defence of the nation is provided by France.[221](../../221/ "tree and pragmatics") Monaco has no navy or air force, but on both a per-capita and per-area basis, Monaco has one of the largest police forces (515 police officers for about 38,000 people) and police presences in the world.[\[146\]](../../page/4/#ref-146 "note 146")[222](../../222/ "tree and pragmatics") Its police includes a special unit which operates patrol and surveillance boats jointly with the military.[223](../../223/ "tree and pragmatics") Police forces in Monaco are commanded by a French officer.[\[147\]](../../page/4/#ref-147 "note 147")[224](../../224/ "tree and pragmatics") There is also a small [military force](https://en.wikipedia.org/wiki/Military_of_Monaco).[225](../../225/ "tree and pragmatics") This consists of a bodyguard unit for the prince and his [palace](https://en.wikipedia.org/wiki/Prince%27s_Palace_of_Monaco) in [Monaco-Ville](https://en.wikipedia.org/wiki/Monaco-Ville) called the [Compagnie des Carabiniers du Prince](https://en.wikipedia.org/wiki/Compagnie_des_Carabiniers_du_Prince) (Prince's Company of Carabiniers);[\[148\]](../../page/4/#ref-148 "note 148") together with the militarised, armed fire and civil defence corps ([Sapeurs-Pompiers](https://en.wikipedia.org/wiki/Corps_des_Sapeurs-Pompiers_de_Monaco)) it forms Monaco's total forces.[\[149\]](../../page/4/#ref-149 "note 149")[226](../../226/ "tree and pragmatics") The Compagnie des Carabiniers du Prince was created by [Prince Honoré IV](https://en.wikipedia.org/wiki/Honoré_IV,_Prince_of_Monaco) in 1817 for the protection of the principality and the princely family.[227](../../227/ "tree and pragmatics") The company numbers exactly 116 officers and men; while the [non-commissioned officers](https://en.wikipedia.org/wiki/Non-commissioned_officer) and [soldiers](https://en.wikipedia.org/wiki/Soldier) are local, the officers have generally served in the [French Army](https://en.wikipedia.org/wiki/French_Army).[228](../../228/ "tree and pragmatics") In addition to their guard duties as described, the carabiniers patrol the principality's beaches and coastal waters.[\[150\]](../../page/4/#ref-150 "note 150")[229](../../229/ "tree and pragmatics") ## Economy Main article: [Economy of Monaco](https://en.wikipedia.org/wiki/Economy_of_Monaco) Monaco has the world's highest [nominal GDP per capita](https://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28nominal%29_per_capita) at US$185,742, [PPP-adjusted GDP per capita](https://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita) at $132,571 and [GNI per capita](https://en.wikipedia.org/wiki/List_of_countries_by_GNI_%28nominal,_Atlas_method%29_per_capita) at $183,150.[\[151\]](../../page/4/#ref-151 "note 151")[\[152\]](../../page/4/#ref-152 "note 152")[\[153\]](../../page/4/#ref-153 "note 153")[230](../../230/ "tree and pragmatics") It has an [unemployment rate](https://en.wikipedia.org/wiki/List_of_countries_by_unemployment_rate) of 2%,[\[154\]](../../page/4/#ref-154 "note 154") with over 48,000 workers who commute from France and Italy each day.[\[77\]](../../page/4/#ref-77 "note 77")[231](../../231/ "tree and pragmatics") According to the [CIA World Factbook](https://en.wikipedia.org/wiki/CIA_World_Factbook), Monaco has the world's [lowest poverty rate](https://en.wikipedia.org/wiki/List_of_countries_by_poverty)[\[155\]](../../page/4/#ref-155 "note 155") and the highest number of millionaires and billionaires per capita in the world.[\[156\]](../../page/4/#ref-156 "note 156")[232](../../232/ "tree and pragmatics") For the fourth year in a row, Monaco in 2012 had the world's most expensive real estate market, at $58,300 per square metre.[\[157\]](../../page/4/#ref-157 "note 157")[\[158\]](../../page/4/#ref-158 "note 158")[\[159\]](../../page/4/#ref-159 "note 159")[233](../../233/ "tree and pragmatics") Although the average price went down in 2020, to an average price of $53,378 per square metre, Monaco remains one of the most expensive places in the world to buy property.[\[160\]](../../page/4/#ref-160 "note 160")[234](../../234/ "tree and pragmatics") By 2024, Monaco allows Visa-free travel from 86 countries around the world.[\[161\]](../../page/4/#ref-161 "note 161")[235](../../235/ "tree and pragmatics") The world's most expensive apartment is located in Monaco, a penthouse at the [Odeon Tower](https://en.wikipedia.org/wiki/Odeon_Tower) valued at $335 million according to [Forbes](https://en.wikipedia.org/wiki/Forbes) in 2016.[\[162\]](../../page/4/#ref-162 "note 162")[236](../../236/ "tree and pragmatics") The state retains monopolies in numerous sectors, including tobacco and the postal service.[237](../../237/ "tree and pragmatics") The telephone network ([Monaco Telecom](https://en.wikipedia.org/wiki/Monaco_Telecom)) used to be fully owned by the state.[238](../../238/ "tree and pragmatics") Its monopoly now comprises only 45%, while the remaining 55% is owned by [Cable & Wireless Communications](https://en.wikipedia.org/wiki/Cable_&_Wireless_Communications) (49%) and [Compagnie Monégasque de Banque](https://en.wikipedia.org/wiki/Compagnie_Monégasque_de_Banque) (6%).[239](../../239/ "tree and pragmatics") Living standards are high, roughly comparable to those in prosperous French metropolitan areas.[\[163\]](../../page/4/#ref-163 "note 163")[240](../../240/ "tree and pragmatics") Monaco is not a member of the [European Union](https://en.wikipedia.org/wiki/European_Union), but is very closely linked via a customs union with France.[241](../../241/ "tree and pragmatics") As such, its currency is the same as that of France, the [euro](https://en.wikipedia.org/wiki/Euro).[242](../../242/ "tree and pragmatics") Before 2002, Monaco minted its own coinage, the [Monégasque franc](https://en.wikipedia.org/wiki/Monégasque_franc).[243](../../243/ "tree and pragmatics") Monaco has acquired the right to mint [euro coins](https://en.wikipedia.org/wiki/Euro_coins) with [Monegasque designs](https://en.wikipedia.org/wiki/Monegasque_euro_coins) on its national side.[244](../../244/ "tree and pragmatics") Monaco has become a major banking centre, holding over €100 billion worth of funds.[\[164\]](../../page/4/#ref-164 "note 164")[245](../../245/ "tree and pragmatics") Banks in Monaco specialise in providing private banking, asset and wealth management services.[\[165\]](../../page/4/#ref-165 "note 165")[246](../../246/ "tree and pragmatics") The principality has successfully sought to diversify its economic base into services and small, high-value-added, non-polluting industries, such as cosmetics.[\[155\]](../../page/4/#ref-155 "note 155")[247](../../247/ "tree and pragmatics") ### Tourism Tourist arrivals of 2024 in %[\[166\]](../../page/4/#ref-166 "note 166")[248](../../248/ "tree and pragmatics") | | | --- | | | One of Monaco's main sources of income is tourism.[249](../../249/ "tree and pragmatics") Each year many foreigners are attracted to its casinos and pleasant climate.[\[72\]](../../page/4/#ref-72 "note 72")[\[167\]](../../page/4/#ref-167 "note 167")[250](../../250/ "tree and pragmatics") In 2022 there were about 300,000 international tourist arrivals.[\[168\]](../../page/4/#ref-168 "note 168")[251](../../251/ "tree and pragmatics") Monaco is the only place in Europe where credit card points are not redeemable.[252](../../252/ "tree and pragmatics") Hotel points are not able to be accumulated nor are transactions recorded, allowing for an increase in privacy that is sought by many of the locals.[253](../../253/ "tree and pragmatics") ### Gambling industry The plan for casino gambling was drafted during the reign of [Florestan I](https://en.wikipedia.org/wiki/Florestan_I,_Prince_of_Monaco) in 1846.[254](../../254/ "tree and pragmatics") Under Louis-Philippe's [petite-bourgeois](https://en.wikipedia.org/wiki/Petite_bourgeoisie) regime a dignitary such as the [Prince of Monaco](https://en.wikipedia.org/wiki/Monarchy_of_Monaco) was not allowed to operate a gambling house.[\[32\]](../../page/4/#ref-32 "note 32")[255](../../255/ "tree and pragmatics") All this changed in the dissolute [Second French Empire](https://en.wikipedia.org/wiki/Second_French_Empire) under [Napoleon III](https://en.wikipedia.org/wiki/Napoleon_III).[256](../../256/ "tree and pragmatics") The [House of Grimaldi](https://en.wikipedia.org/wiki/House_of_Grimaldi) was in dire need of money.[257](../../257/ "tree and pragmatics") The towns of [Menton](https://en.wikipedia.org/wiki/Menton,_France) and [Roquebrune](https://en.wikipedia.org/wiki/Roquebrune-Cap-Martin), which had been the main sources of income for the Grimaldi family for centuries, were now accustomed to a much-improved [standard of living](https://en.wikipedia.org/wiki/Standard_of_living) and lenient taxation thanks to the Sardinian intervention and clamoured for financial and political concession, even for separation.[258](../../258/ "tree and pragmatics") The Grimaldi family hoped the newly legal industry would help alleviate the difficulties they faced, above all the crushing debt the family had incurred, but Monaco's first casino would not be ready to operate until after [Charles III](https://en.wikipedia.org/wiki/Charles_III,_Prince_of_Monaco) assumed the throne in 1856.[259](../../259/ "tree and pragmatics") The grantee of the princely concession (licence) was unable to attract enough business to sustain the operation and, after relocating the casino several times, sold the concession to French casino magnates [François](https://en.wikipedia.org/wiki/François_Blanc) and Louis Blanc for 1.7 million francs.[260](../../260/ "tree and pragmatics") The Blancs had already set up a highly successful casino (in fact the largest in Europe) in [Bad-Homburg](https://en.wikipedia.org/wiki/Bad_Homburg) in the Grand Duchy of [Hesse-Homburg](https://en.wikipedia.org/wiki/Hesse-Homburg), a small German principality comparable to Monaco, and quickly petitioned Charles III to rename a depressed seaside area known as "Les Spelugues (Den of Thieves)" to "Monte Carlo (Mount Charles)."[\[169\]](../../page/4/#ref-169 "note 169")[261](../../261/ "tree and pragmatics") They then constructed their casino in the newly dubbed "Monte Carlo" and cleared out the area's less-than-savoury elements to make the neighbourhood surrounding the establishment more conducive to tourism.[262](../../262/ "tree and pragmatics") The Blancs opened [Le Grand Casino de Monte Carlo](https://en.wikipedia.org/wiki/Le_Grand_Casino_de_Monte_Carlo) in 1858 and the casino benefited from the tourist traffic the newly built French railway system created.[\[170\]](../../page/4/#ref-170 "note 170")[263](../../263/ "tree and pragmatics") Due to the combination of the casino and the railroads, Monaco finally recovered from the previous half-century of economic slump and the principality's success attracted other businesses.[\[171\]](../../page/4/#ref-171 "note 171")[264](../../264/ "tree and pragmatics") In the years following the casino's opening, Monaco founded its [Oceanographic Museum](https://en.wikipedia.org/wiki/Oceanographic_Museum) and the [Monte Carlo Opera House](https://en.wikipedia.org/wiki/Monte_Carlo_Opera_House), 46 hotels were built and the number of jewellers operating in Monaco increased by nearly five-fold.[265](../../265/ "tree and pragmatics") In an apparent effort not to overtax citizens, it was decreed that the Monégasque citizens were prohibited from entering the casino unless they were employees.[\[172\]](../../page/4/#ref-172 "note 172")[266](../../266/ "tree and pragmatics") By 1869, the casino was making such a vast sum of money that the principality could afford to end tax collection from the Monegasques—a masterstroke that was to attract affluent residents from all over Europe in a policy that still exists today.[267](../../267/ "tree and pragmatics") Today, [Société des bains de mer de Monaco](https://en.wikipedia.org/wiki/Société_des_bains_de_mer_de_Monaco), which owns Le Grand Casino, still operates in the original building that the Blancs constructed and has since been joined by several other casinos, including the Le Casino Café de Paris, the Monte Carlo Sporting Club & Casino and the Sun Casino.[268](../../268/ "tree and pragmatics") The most recent addition in Monte Carlo is the [Monte Carlo Bay Casino](https://en.wikipedia.org/wiki/Monte-Carlo_Bay_Hotel_&_Resort), which sits on 4 hectares of the Mediterranean Sea; among other things, it offers 145 slot machines, all equipped with "[ticket-in, ticket-out](https://en.wikipedia.org/wiki/Ticket-in,_ticket-out)" (TITO).[269](../../269/ "tree and pragmatics") It is the first Mediterranean casino to use this technology.[\[173\]](../../page/4/#ref-173 "note 173")[270](../../270/ "tree and pragmatics") ### Low taxes Monaco has a 20% VAT plus high social-insurance taxes, payable by both employers and employees.[271](../../271/ "tree and pragmatics") The employers' contributions are between 28% and 40% (averaging 35%) of gross salary, including benefits, and employees pay a further 10% to 14% (averaging 13%).[\[174\]](../../page/4/#ref-174 "note 174")[272](../../272/ "tree and pragmatics") Monaco has never levied [income tax](https://en.wikipedia.org/wiki/Income_tax) on [individuals](https://en.wikipedia.org/wiki/Individual),[\[78\]](../../page/4/#ref-78 "note 78") and foreigners are thus able to use it as a "[tax haven](https://en.wikipedia.org/wiki/Tax_haven)" from their own country's high taxes, because as an independent country, Monaco is not obliged to pay taxes to other countries.[\[175\]](../../page/4/#ref-175 "note 175")[\[176\]](../../page/4/#ref-176 "note 176")[273](../../273/ "tree and pragmatics") The absence of a personal income tax has attracted many wealthy "tax refugee" residents from European countries, who derive the majority of their income from activity outside Monaco.[274](../../274/ "tree and pragmatics") [Celebrities](https://en.wikipedia.org/wiki/Celebrity), such as [Formula One](https://en.wikipedia.org/wiki/Formula_One) drivers, attract most of the attention but the vast majority are lesser-known business people.[\[177\]](../../page/4/#ref-177 "note 177")[275](../../275/ "tree and pragmatics") Per a bilateral treaty with France, French citizens who reside in Monaco must still pay income and wealth taxes to France.[\[116\]](../../page/4/#ref-116 "note 116")[276](../../276/ "tree and pragmatics") The principality also actively discourages the registration of foreign corporations, charging a 33 per cent [corporation tax](https://en.wikipedia.org/wiki/Corporate_tax) on profits unless they can show that at least three-quarters of turnover is generated within Monaco.[277](../../277/ "tree and pragmatics") Unlike classic tax havens, Monaco does not offer offshore financial services.[\[78\]](../../page/4/#ref-78 "note 78")[278](../../278/ "tree and pragmatics") In 1998, the [Centre for Tax Policy and Administration](https://en.wikipedia.org/wiki/Centre_for_Tax_Policy_and_Administration), part of the [Organisation for Economic Co-operation and Development](https://en.wikipedia.org/wiki/Organisation_for_Economic_Co-operation_and_Development) (OECD), issued a first report on the consequences of the financial systems of known [tax havens](https://en.wikipedia.org/wiki/Tax_haven).[\[178\]](../../page/4/#ref-178 "note 178")[279](../../279/ "tree and pragmatics") Monaco did not appear in the list of these territories until 2004, when the OECD became indignant regarding the Monegasque situation and denounced it in a report, along with [Andorra](https://en.wikipedia.org/wiki/Andorra) [corpus](../../../Andorra/ "in our corpus"), [Liechtenstein](https://en.wikipedia.org/wiki/Liechtenstein) [corpus](../../../Liechtenstein/ "in our corpus"), [Liberia](https://en.wikipedia.org/wiki/Liberia) [corpus](../../../Liberia/ "in our corpus"), and the [Marshall Islands](https://en.wikipedia.org/wiki/Marshall_Islands) [corpus](../../../Marshall_Islands/ "in our corpus").[280](../../280/ "tree and pragmatics") The report underlined Monaco's lack of co-operation regarding financial information disclosure and availability.[\[179\]](../../page/4/#ref-179 "note 179")[\[180\]](../../page/4/#ref-180 "note 180")[281](../../281/ "tree and pragmatics") Later, Monaco overcame the OECD's objections and was removed from the "grey list" of uncooperative jurisdictions.[282](../../282/ "tree and pragmatics") In 2009, Monaco went a step further and secured a place on the "white list" after signing twelve information exchange treaties with other jurisdictions.[\[78\]](../../page/4/#ref-78 "note 78")[283](../../283/ "tree and pragmatics") In 2000, the [Financial Action Task Force on Money Laundering](https://en.wikipedia.org/wiki/Financial_Action_Task_Force_on_Money_Laundering) (FATF) stated: "The anti-money laundering system in Monaco is comprehensive.[284](../../284/ "tree and pragmatics") Difficulties have been encountered with Monaco by countries in international investigations on serious crimes that appear to be linked also with tax matters.[285](../../285/ "tree and pragmatics") In addition, the FIU of Monaco (SICCFIN) suffers a great lack of adequate resources.[286](../../286/ "tree and pragmatics") The authorities of Monaco have stated that they will provide additional resources to SICCFIN."[\[181\]](../../page/4/#ref-181 "note 181")[287](../../287/ "tree and pragmatics") Also in 2000, a report by French politicians [Arnaud Montebourg](https://en.wikipedia.org/wiki/Arnaud_Montebourg) and [Vincent Peillon](https://en.wikipedia.org/wiki/Vincent_Peillon) stated that Monaco had relaxed policies with respect to money laundering including within its casino and that the Government of Monaco had been placing political pressure on the judiciary so that alleged crimes were not being properly investigated.[\[182\]](../../page/4/#ref-182 "note 182")[288](../../288/ "tree and pragmatics") In its Progress Report of 2005, the [International Monetary Fund](https://en.wikipedia.org/wiki/International_Monetary_Fund) (IMF) identified Monaco, along with 36 other territories, as a [tax haven](https://en.wikipedia.org/wiki/Tax_haven),[\[183\]](../../page/4/#ref-183 "note 183") but in its [FATF](https://en.wikipedia.org/wiki/Financial_Action_Task_Force_on_Money_Laundering) report of the same year it took a positive view of Monaco's measures against money-laundering.[\[184\]](../../page/4/#ref-184 "note 184")[\[185\]](../../page/4/#ref-185 "note 185")[289](../../289/ "tree and pragmatics") The [Council of Europe](https://en.wikipedia.org/wiki/Council_of_Europe) also decided to issue reports naming tax havens.[290](../../290/ "tree and pragmatics") Twenty-two territories, including Monaco, were thus evaluated between 1998 and 2000 on a first round.[291](../../291/ "tree and pragmatics") Monaco was the only territory that refused to perform the second round, between 2001 and 2003, whereas the 21 other territories had planned to implement the third and final round, planned between 2005 and 2007.[\[186\]](../../page/4/#ref-186 "note 186")[292](../../292/ "tree and pragmatics") In June 2024, the FATF added Monaco to its "grey list", which includes countries needing "increased monitoring" due to statewide issues of money laundering and terrorist financing.[\[25\]](../../page/4/#ref-25 "note 25")[293](../../293/ "tree and pragmatics") ### Numismatics Main article: [Monégasque franc](https://en.wikipedia.org/wiki/Monégasque_franc), [Monégasque euro coins](https://en.wikipedia.org/wiki/Monégasque_euro_coins), [Euro gold and silver commemorative coins (Monaco)](https://en.wikipedia.org/wiki/Euro_gold_and_silver_commemorative_coins_%28Monaco%29) Monaco issued its own coins in various devaluations connected to the [écu](https://en.wikipedia.org/wiki/Écu) already in the seventeenth century, but its first decimal coins of the Monégasque franc were issued in 1837 continued until 2001.[294](../../294/ "tree and pragmatics") Although Monaco is not a [European Union](https://en.wikipedia.org/wiki/European_Union) member, it is allowed to use the [euro](https://en.wikipedia.org/wiki/Euro) as its currency by arrangement with the [Council of the European Union](https://en.wikipedia.org/wiki/Council_of_the_European_Union); it is also granted the right to use its own designs on the national side of the [euro coins](https://en.wikipedia.org/wiki/Euro_coins), which was introduced in 2002.[\[187\]](../../page/4/#ref-187 "note 187")[295](../../295/ "tree and pragmatics") In preparation for this date, the minting of the new euro coins started as early as 2001.[296](../../296/ "tree and pragmatics") Like Belgium, Finland, France, the Netherlands, and Spain, Monaco decided to put the minting date on its coins.[297](../../297/ "tree and pragmatics") This is why the first euro coins from Monaco have the year 2001 on them, instead of 2002, like the other countries of the [Eurozone](https://en.wikipedia.org/wiki/Eurozone) that decided to put the year of first circulation (2002) on their coins.[\[188\]](../../page/4/#ref-188 "note 188")[298](../../298/ "tree and pragmatics") Three different designs were selected for the Monégasque coins.[\[189\]](../../page/4/#ref-189 "note 189")[299](../../299/ "tree and pragmatics") The design was changed in 2006 after Prince Rainier's death to feature the effigy of Prince Albert.[\[189\]](../../page/4/#ref-189 "note 189")[300](../../300/ "tree and pragmatics") ### Transport Main article: [Transport in Monaco](https://en.wikipedia.org/wiki/Transport_in_Monaco) Further information: [Rail transport in Monaco](https://en.wikipedia.org/wiki/Rail_transport_in_Monaco) One of the most important modes of local transportation is walking, and the city is expanding its pedestrian network in the 2020s to be more pedestrian friendly.[301](../../301/ "tree and pragmatics") This includes plans for a new pedestrian bridge in Fontvieille that connects to the new Wurtemberg [footbridge](https://en.wikipedia.org/wiki/Footbridge).[\[190\]](../../page/4/#ref-190 "note 190")[\[191\]](../../page/4/#ref-191 "note 191")[302](../../302/ "tree and pragmatics") [1](https://md.mova.elamur.ai/free/en/corpora/wikipedia/en/Monaco/) [2](https://md.mova.elamur.ai/free/en/corpora/wikipedia/en/Monaco/page/2/) **3** [4](https://md.mova.elamur.ai/free/en/corpora/wikipedia/en/Monaco/page/4/) - ← previous: [page 2](https://md.mova.elamur.ai/free/en/corpora/wikipedia/en/Monaco/page/2/) - next →: [page 4](https://md.mova.elamur.ai/free/en/corpora/wikipedia/en/Monaco/page/4/) - ↑ back to [English Wikipedia](https://md.mova.elamur.ai/free/en/corpora/wikipedia/en/)