Monaco, officially the Principality of
Monaco, is a small sovereign city-state located in South Western Europe
on the northern central coast of the Mediterranean Sea, having a land border on
three sides only with France,
and being about 16 km away from Italy. Its size is just under
2 kmē with an estimated population of almost 33,000, it is the second smallest
country in the world; only Vatican
City is smaller.
Monaco is a constitutional monarchy and principality.
The House of Grimaldi has ruled Monaco
since 1297, and the state's sovereignty was officially recognized by the Franco-Monegasque
Treaty of 1861. Despite being independent, Monaco's
defense is the responsibility of France.
Monaco is the name of the country as well as the
name of its only and capital city. It is often regarded as a tax haven, and
many of its inhabitants are wealthy and from foreign countries, making up a
majority of the population, at around 84%.