Friday, September 25, 2009
Monaco's Busy Monarch
HSH Prince Albert II has had an eventful last few days. On the 23rd he addressed the General Assembly of the UN, his remarks focusing on environmental concerns and the commitment of Monaco to the reform of the global financial system, the creation of a new “green economy” and humanitarian causes around the world, particularly those concerning women and children. He also pledged 0.7% of the GDP of his Principality to development in these areas. Which lends weight to his words considering that the Monegasque pay virtually no taxes and the national income is largely his own income. It is not quite the same as other world leaders promising money they have taxed from their people whether they like it or not. The Sovereign Prince went to his speech in a good mood as just prior to his remarks the Monegasque delegation was informed that Monaco was taken off the “gray list” of tax havens by the OECD just ahead of the Pittsburgh summit. However, the Sovereign Prince did not hand around long, jetting back to Monaco in time to open the 19th Monaco Yacht Show the very next day. The Monaco Yacht Show is famous across the Riviera as THE ultimate display of super-large luxury yachts. So, His Serene Highness has been busy as a bee, working hard for Monaco and the world. But think about the carbon footprint for all those trans-Atlantic flights!