Executive branch: chief of state: Prince RAINIER III (since 9 May 1949); Heir Apparent Prince ALBERT Alexandre Louis Pierre (born 14 March 1958) head of government: Minister of State Michel LEVEQUE (since 3 February 1997) cabinet: Council of Government is under the authority of the prince elections: none; the prince is a hereditary monarch; minister of state appointed by the prince from a list of three French national candidates presented by the French Government
Legislative branch: unicameral National Council or Conseil National (18 seats; members are elected by popular vote to serve five-year terms) elections: last held 24 and 31 January 1993 (next to be held NA January 1998) election results: percent of vote by party-NA; seats by party-National and Democratic Union 15, other 3
Judicial branch: Supreme Court or Tribunal Supreme, judges named by the prince on the basis of nominations by the National Council
Political parties and leaders: National and Democratic Union or UND
[Jean-Louis CAMPORA]
International organization participation: ACCT, ECE, IAEA, ICAO, ICRM,
IFRCS, IHO, IMO, Inmarsat, Intelsat, Interpol, IOC, ITU, OSCE, UN,
UNCTAD, UNESCO, UPU, WHO, WIPO, WMO
Diplomatic representation in the US: Monaco does not have an embassy in the US consulate(s): New York honorary consulate(s) general: Boston, Los Angeles, New Orleans, San Francisco, San Juan (Puerto Rico) honorary consulate(s): Dallas, Palm Beach, Philadelphia, and Washington, DC
Diplomatic representation from the US: the US does not have an embassy in Monaco; the US Consul General in Marseille (France) is accredited to Monaco
Flag description: two equal horizontal bands of red (top) and white; similar to the flag of Indonesia which is longer and the flag of Poland which is white (top) and red
@Monaco:Economy
Economy-overview: Monaco, situated on the French Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The Principality has successfully sought to diversify into services and small, high-value-added, nonpolluting industries. The state has no income tax and low business taxes and thrives as a tax haven both for individuals who have established residence and for foreign companies that have set up businesses and offices. About 55% of Monaco's annual revenue comes from value-added taxes on hotels, banks, and the industrial sector. Living standards are high, roughly comparable to those in prosperous French metropolitan areas.