“Mon-Exit” – EU loses world’s richest country by per capita GDP

Roulette wheel stopped turning for EU on Friday when Monaco declared “Les jeux sont faits”

Montage © Facts4EU.Org

The chips are now down as Monaco snubs EU and puts it all on black

Talks between the EU and Monaco finally broke down on Friday, after 10 years. EU Vice-President Maros Sefcovic eventually had to put a brave face on his losses at the ‘Casino Royale’ negotiating table. The government of Crown Prince Albert of Monaco pulled out of further talks with the EU over what is known as an “EU Association Agreement”.

A joint statement was issued and was then buried on the EU Commission website by only being available in French – a common tactic when the news from Brussels is not good.

What the joint statement said

Below we quote highlights from the statement issued by the Monaco government about the “Decisive Meeting” on Friday.

“During this meeting, the Monégasque delegation recalled the main principles on which the identity of the Principality was founded, to which the Monegasques are very attached and which were specified from the start of the negotiations.
“For his part, the Executive Vice-President confirmed the European Commission's objective to sign an association agreement by the end of 2023 on the basis of the mandate entrusted to him by the Council of the European Union, based on respect for four freedoms (people, capital, services and goods) and the preservation of the integrity and homogeneity of the internal market.
“At the end of a frank and cordial exchange, the participants [shared the common view of] the impossibility of reconciling the requirements of the European Union with the red lines stated by His Royal Highness the Prince as soon as these discussions were opened, which aim to ensure the continuation of current living, working and housing conditions for nationals and residents in the Principality.
“In this context, the two parties have agreed that the conditions were not met within the framework of the current mandate of the European Union to conclude an agreement and agreed to suspend negotiations.”
- Ms. Isabelle BERRO-AMADEI, Councilor of Government-Minister of External Relations and Cooperation, after meeting Maroš Šefčovič, Executive Vice-President of the EU Commission, Brussels, 15 Sept 2023

What this statement really meant

What this means: Putting aside the diplomatic language, Monaco set out their red lines 10 years ago. The EU will not budge and wants them to sign up to all the usual EU rules. The Monaco government has now had enough and has called it a day.

According to the World Bank and the OECD, Monaco is the richest country in the World for GDP per head of population.

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The beautiful anachronism that is Monaco

Any attempt to summarise Monaco’s history, status and relationship with the EU, with France, and with the wider global community is fraught with difficulty. In many ways, Monaco should not exist and yet it has prospered over hundreds of years and now has the highest GDP per capita in the world.

Monaco is an independent sovereign state and is recognised as such by the United Nations, of which it is a member. It uses the euro as its currency, it collects VAT at the 20% EU rate, it has open borders with France, and yet it is not a member of the EU.

Monaco is ostensibly a ‘constitutional monarchy’ like the United Kingdom, but its Crown Prince has effective powers that King Charles III could only dream of.

There is one word which could be said to describe Monaco for many people and that is ‘glamour’.

Perfectly located on the French Riviera, its harbour berths some of the most expensive private yachts in the world. When it comes to riches, millionaires are virtually commonplace and billionaires are judged in the ‘tens of units’.

One of the secrets to Monaco’s success over the past century has been its blend of royalty, wealth and showbiz. In the latter case this was most notably cemented when the Crown Prince’s late father Prince Albert married the screen goddess Grace Kelly.

Credit : Pierre Tourigny

Observations

The EU fails again

Once again the EU has shown itself adept at negotiating for years and achieving nothing. Its insistence on its ‘Four Freedoms’ were always a “non-non” for Monaco, as they made clear at the start. As a result Monaco now retains its relative independence.

Finally, a Brexit Facts4EU travel advisory from our Chairman

In line with our long tradition of little 'Sunday amusements' for our readers, here are our Chairman's thoughts on visiting Monaco.

“Firstly, if you haven’t already been there put Monaco on your ‘bucket list’. However don’t stay in the Principality unless you have very deep pockets. Stay along the coast in Nice. You can then catch the shuttle train which deposits you in Monte Carlo. This takes only 20 minutes, costs just £4, and offers great views of the coastline en route.

“Secondly, if you want to experience the famous casino itself, entrance costs around £15 – refunded if you eat there. Dress to impress. Once again, not for the faint-heated when it comes to the prices on the menu.

“Finally, if you would like to take in a Monégasque experience without splashing a fortune, I recommend the brasserie in the square. Sit outside on the terrace, soak up the atmosphere, and admire the magnificent architecture all around you. It’s situated within sight of the casino entrance, where you can wander over and admire the Lambos, Ferraris, and other supercars as their glamorous occupants arrive and depart.

“Sadly Margot Robbie wasn’t there during any of my visits, so she will never know what she missed…”

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[ Sources: Monaco government ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Sun 17 Sept 2023

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Reader Comments 8

1. terence patrick hewett , Sunday, September 17, 2023, 06:08:

When the EU's bluff is called, there is nothing they can do about it, except huff and puff about tariffs, which will hurt themselves, as much as those whom they wish to bully. The EU is a busted flush: unlike tiny Switzerland and Monaco, the UK government, are so lacking in self respect, that they bow to this fictitious nonsense

2. Ashley Great Britain , Sunday, September 17, 2023, 07:36:

Monaco is a small country with few institutions and officials compared to say, The UK.
They do very well and have a relatively good life. There is far less scope to infiltrate them and bend them to the will of the EU. Monaco has seen how Britain and Ni have been treated and how the EU ruins what it touches, Not to mention they don't fancy free passes for hordes of economic migrants. The 10 year talks were buying them time but from the beginning they knew the answer was No.
The Eu's unravelling has already started which is good news for ordinary citizens.
The uk's get out of jail card is to vote for reform uk. Lib/lab/Con/Green have stuffed us good and proper and they seek to take us back into the EU.

3. Michael Cheyne , Sunday, September 17, 2023, 07:48:

Both Switzerland and Monaco have borders with the EU but steadfastly refuse to join. Yet the EU still intends to expand. The objective appears to include nations such as Moldova, Albania, Georgia and Ukraine, with Turkey still at the door too. All of which are nations that see Euros ready to be poured in, to upgrade those countries. The net result is, in my view, a larger and poorer EU. The wealthier countries having to support the ever increasing number of poorer countries.

4. LuxuryBalloon , Sunday, September 17, 2023, 09:09:

I am not sure I agree with Facts4EU that Monaco is an ‘independent’ sovereign state … Monaco completely relies on France for it’s defence.

5. Gazzablack , Sunday, September 17, 2023, 09:57:

5, Luxury
Are you sure it's not France that relies on Monaco for it's defence?

6. terence patrick hewett , Sunday, September 17, 2023, 11:00:

@ Michael Cheyne
Ukraine have applied to join the CPTPP, and do not want to join the EU. Historically they have suffered under Germany, France and Russia, so they really want to link with the Anglosphere.

7. LuxuryBalloon , Sunday, September 17, 2023, 15:27:

5 Gazza. Before Brexit, we could gamble in the casino and hang around on a super-yacht in Monaco as long as we wanted … now we can stay a maximum of 90 days … and Monaco is not even in the EU and had nothing to do with Brexit. Monaco behaves more like a French poodle than an ‘independent’ sovereign state.

8. jon iivesey , Sunday, September 17, 2023, 17:36:

It's easy to make jokes about Monaco, but there is a common issue here. Countries, even very small ones, which are rich enough to do without the wonders of the EU are reluctant to be bound by its huge array of regulations. From now on EU expansion - or even "association" - depends on a limited number of special cases, and the EU risks diluting itself by taking on mostly countries that need it more than it needs them - plus their associated strategic risks. especially in Eastern Europe.
Monaco is clearly one of the special cases, but Turkey is a big chunk of the Near East and an emerging regional power, and just yesterday Erdogan said that Turkey and the EU seem to be "parting ways". Turkey has influence that goes far beyond Turkey. If they lose Turkey, they lose a country that can manufacture its own drones and pretty soon its own fighter aircraft and which is going to have a very large voice in the management of the Middle East generally. One of the themes of the 20th Century has been the repeated and failed attempts to establish a viable "Arab League" and Erdogan just might be more successful in creating an alternate Islamic League. I don't know if the Eu wants that.
I am certainly not a fan of Erdogan, but facts trump opinions and the fact is that he and his policies are very popular in Turkey.

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