Monaco is a sovereign city-state, country, and microstate on the French Riviera in Western Europe. France borders the country on three sides while the other side borders the Mediterranean Sea. Monaco is about 15 km from the state border with Italy.
Monaco is the second-smallest country in the world after the Vatican. Monaco is known to be the most expensive and the wealthiest place on Earth, Vatican City excluded, due to its tax laws. In 2014, it was noted that about 30% of the population was made up of millionaires.
Monaco is a principality governed under a form of constitutional monarchy, with Prince Albert II as head of state. Although Prince Albert II is a constitutional monarch, he wields immense political power. The House of Grimaldi has ruled Monaco, with brief interruptions, since 1297. The official language is French, but Monégasque, Italian, and English are widely spoken and understood.
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