The Principality of Monaco (French: Principauté de Monaco; Monégasque: Principatu de Múnegu; Occitan: Principat de Mónegue; Italian: Principato di Monaco), more commonly known as Monaco, is a constitutional monarchy and city-state in Western Europe located along the French Riviera between the Mediterranean Sea and France. Affluent Monaco is one of the five European microstates.
Monaco is the most densely populated country in the world and the world's second-smallest independent country, with a population of just 32,410 and an area of 1.95 square kilometers (481.9 acres). It has more millionaires per capita than any other country in the world. It is the smallest French-speaking country in the world.
The Principality of Monaco is the second-smallest independent state in the world, after Vatican City. It is located on the Mediterranean coast, 18 kilometers (11 mi) east of Nice and near the Italian border. It is surrounded on three sides by the Provence-Alpes-Côte d'Azur Région of France. It consists of a narrow strip along the coast at the bottom of the foothills of the Alps and its highest point is "Le Rocher" at 140 meters (459 ft). The principality is noted for its natural scenery and mild, sunny climate. The average minimum temperature in January and February is 8 °C (47 °F); in July and August the average maximum temperature is 26 °C (78 °F). Monaco is a narrow coastal strip. Its physical geography includes a long beach and steep cliffs that rise vertically upwards to heights of 63 meters (206 ft) above sea level.
In 2002, a new treaty between France and Monaco clarifies that if there are no heirs to carry on the dynasty, the principality will remain an independent nation rather than revert to France. Monaco's military defence, however, is still the responsibility of France. By 31 March 2005, Prince Rainier III had become too ill to exercise his royal duties and relinquished them to his son Prince Albert, Marquis of Baux. On 6 April 2005, Prince Rainier died and his son succeeded him as Albert II of Monaco. Prince Albert II of Monaco formally became the ruler of Monaco on 12 July 2005, in a celebration that began with a solemn Mass at the cathedral where his father was buried three months before, after a reign of fifty-six years. His accession to the throne was a two-step event with another ceremony drawing heads of state for an elaborate ceremony held on 19 November 2005. He is the son of the late actress and princess Grace Kelly.
Monaco is not a member of the European Union but is very closely linked to it via a customs union with France, and as such its currency is the same as that of France: the euro. Prior to 2002, Monaco minted their own franc coins, the Monegasque franc. Monaco has acquired the right to mint euro coins with Monegasque designs on their national side. Monaco's major exports are chemicals, pharmaceuticals, beauty-care products, ceramics, metal works, textiles, plastics, and instruments.
